I would suggest you work with a Knowledgeable and Trusted Mortgage Professional to find out all the options you have, including the best rates and scenarios for all various loan programs and terms. I would be happy to help you directly with this, but would need more information. You can email me from this site if you'd like some direct help!
Connect with a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, not just those of ONE bank, and can properly guide you. You can find one here at Lender411, or better yet, check out the Licensed and Certified Mortgage Professionals that are members of the National Association of Mortgage Professionals at www.NAMB.org. Members adhere to a strict Code of Ethics which benefits the consumer and we are trained to look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
First step would be to fill out an application with us. We are a non-profit which enables us to keep our rates and fees low. Let me know if you have any further questions: P: 888-320-7888 - Ken@MortgagesforAmerica.org
Considering the rate one must have on an older Jumbo loan and the lower rates available today the best plan of action would be to look into all your refi options. Ideally, depending upon how many years into your current loan, shortening your term would also be a good long term financial move.~JP
Contact a Local Mortgage Broker. Your interest rate must surely be rather high on an "old" Jumbo loan compared to a conforming loan size at today's rates. Don't wait, rates are great!
If you have not selected one of the previous contacts, or would like another opinion, I am located in Tacoma, and would be happy to review your situation, at no cost or obligation to you.
How do you know if you qualify are working someone yet? If have not refinanced lately the process is has greatly changed you will need good help if you qualify.
Great question.....you need to talk with or meet with a mortgage professional that can help you decide if it makes economic sense to refinance. My bet is that it does, so taking some time to do it may save you money in the long run. Let me know how I can help. We can do it over the phone, email or in-person. Thanks, Curt
The best course of action is to have a mortgage pro take a look at your situation, discuss it with you and fin the Best Mortgage Option to suit your needs and goals.
Contact a Local Mortgage Broker. Your interest rate must surely be rather high on an "old" Jumbo loan compared to a conforming loan size at today's rates. Don't wait, rates are great! Andrew Alfonso 800 813 3291
You need to get with a mortgage professional and let that person see if you qualify for a refinance and what kind of rate you can get.It it makes sense, then go with the new loan if not then all you lost was a little of your time.
Get off the internet. Go sit down with a local non-bank Licensed Loan Officer. Let them obtain a full application so they can review your situation to see if there is something that makes sense and can improve your situation. You will constantly hear here to not use a bank. The reason is simply. 10% of the success of your loan is the institution, and 90% is the actual Loan Officer. With that said, Bank Loan Officers are not required to have any state or federal licensed or testing. Therefore 99% of them do not. Non-depository lenders (direct mortgage companies and brokers) ARE REQUIRED BY LAW to take classes, and past difficult federal and State testing to get a license to help you.
I would refinance the mortgage depending on the interest rate.
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