obama refi 15 years

WASHINGTON – President Obama is announcing new mortgage relief. FHA borrowers who want to refinance now must pay a fee of 1.15 percent of their balance every year. Officials say those fees make.

best site for mortgage rates You can lower the interest rate on your mortgage when you pay points (or discount points). The cost of 1 point is equal to 1% of your total loan amount, and lowers your interest rate by an amount less than 1% – typically between .250 and .375%.how much mortgage could i qualify for Once Jones was prequalified to see how much he could borrow, he shopped around for a home based. and more than 75 percent apply for a mortgage with only one lender. "In a similar way to.

The new mortgage can be a 15-, 20- or 30-year, fixed-rate loan or an adjustable-rate mortgage with an initial term of five, seven or 10 years. The loan must be fully amortizing (i.e., not an.

But for some homeowners, a 15-year refinance mortgage could be a smart financial move. 15-year vs. 30-year mortgage. There are pros and cons to both 15- and 30-year mortgages. A 15-year mortgage will save you money in the long run because interest payments are drastically reduced.

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April 1, 2017 – Note: The end date to get a HARP refinance (The home affordable refinance program) has been extended through December 31st, 2018.

part of an election-year push by Democrats to paint Republicans as blocking common-sense steps that could help the middle class. Dubbing it a “no-brainer,” Obama also threw his support behind.

Nobody Actually Gets That Freddie Mac Mortgage Rate - Today's Mortgage and Real Estate News A 15-year fixed-rate mortgage maintains the same interest rate and monthly payment over the 15-year loan period. The 15 year fixed-rate mortgage allows the borrower to pay off the mortgage faster and typically has a low interest rate. But monthly payments are usually higher than with other mortgages. Lenders are exposed to fewer years of risk on a 15-year mortgage, so they charge a lower interest.

A popular choice among homeowners looking to refinance, 15-year, fixed-rate mortgages. Obama cuts refinance costs for some mortgages

If we refi to our current term (20 year refi) we could save about $300 a month. If we refi to a 15-year term we would pay what we are currently paying. An increasing share of refinancing borrowers chose to shorten their loan terms during the second quarter. Of borrowers who paid off a 30-year fixed-rate loan, 37 percent chose a 15- or 20-year loan,

When you refinance from a 30-year fixed-rate mortgage to a 15-year.Best 10 Year Refinance Rates Refinancing your mortgage could be the best financial decision you. ve been in this business more than 25 years, Quicken Loans is a perfect place to start your.

part of an election-year push by Democrats to paint Republicans as blocking common-sense steps that could help the middle class. Dubbing it a “no-brainer,” Obama also threw his support behind.