Most lenders charge fees to refinance a loan. So, if you plan to only stay in the property for a couple of years, your monthly savings may not accumulate to recoup these costs. Example: A lender charged $1,000 to refinance your loan that resulted in saving you $50 each month; it would take 20-months to recoup your initial costs. Some lenders will charge a slightly higher than average interest rate on refinance loans, but will waive all costs associated with the loan. This will depend on the interest rate on your current loan.
Empowering borrowers to make informed decisions on their choice of loan options that works best for them. Serving our clients since 1993.
Company NMLS:2472448
www.nmlsconsumeraccess.org
2424 N. Federal Highway Suite 410
Boca Raton, FL 33431
Phone: (732) 714-0967
teamtami@crownloans.net
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