Anyone have getting bank to lower Mortgage Rate

[LD1]

I think he meant if he keeps paying the amount he is currently paying.

BINGO.


My current minimum payment + $100 overpayment and payoff would be in 126 payments.

New payment +$20 over pay = SAME money out of pocket each month, and would payoff in 10 payments sooner.

Easy way to compair apples to apples.

Of course I could always over pay above and beyoned the $20 extra. Only using that as a figure to keep things even.

 

[beppington]

Gotcha :thumbsup:

You had me worried that lenders were now forcing people to make loan payments for a certain minimum amount of time! so they can get most of the interest they were originally anticipating.

 

[two_bit_score]

Gotcha :thumbsup:

You had me worried that lenders were now forcing people to make loan payments for a certain minimum amount of time! so they can get most of the interest they were originally anticipating.

Some loans do have prepayment penalties so that you really don't gain anything significant by paying off early. That practice as been around a long time.

 

[beppington]

Some loans do have prepayment penalties so that you really don't gain anything significant by paying off early. That practice as been around a long time.

 

[MossflowerWoods]

I googled farm loans Virginia and only got One decent looking hit on the first page: Farm Credit of the Virginias - Loans for Agriculture and Rural Living

The rest were government programs like FSA, etc.

Interesting.

Two Bit,

Hey, I don't think I tried that one.I ent looking about 2-3 months ago and could not find anyone who would cover a refi with my current home vs. property balance, or if they would, it was more money down, and a HIGHER interest rate than I'm paying...

Thanks! I will check them out.

Merry Christmas!
David

 

[two_bit_score]

Two Bit,

Hey, I don't think I tried that one.I ent looking about 2-3 months ago and could not find anyone who would cover a refi with my current home vs. property balance, or if they would, it was more money down, and a HIGHER interest rate than I'm paying...

Thanks! I will check them out.

Merry Christmas!
David

Good luck!

 

[johnpttrsn]

I want to know more about whether I should pursue refinancing an investment property we are currently renting out. This didn't start out as a rental property, but rather a home I was living in before marrying my wife, and moving into another home. We kept this one instead of selling it, and are renting it out currently.

Mortgage Murfreesboro

 

[blueriver]

Its been several years since I had a mortage ... I always stayed with my local bank even if the % was more ... I always heard it was impossible to try and speak to someone at a "Named" Mortgage company ... I just felt better knowing the guy sitting at the desk if I needed to do something different.

 

[lj04]

Two Bit,

Hey, I don't think I tried that one.I ent looking about 2-3 months ago and could not find anyone who would cover a refi with my current home vs. property balance, or if they would, it was more money down, and a HIGHER interest rate than I'm paying...

Thanks! I will check them out.

Merry Christmas!
David

I think you may actually need to talk to Land, Home, Farm Loans - The Experts in Rural Finance

I have some vacant land I financed through them and they have been great.

 

[MossflowerWoods]

I think you may actually need to talk to Land, Home, Farm Loans - The Experts in Rural Finance

I have some vacant land I financed through them and they have been great.

lj04,

I will contact them. the other place their email was no good and I was not going to fill out an online application without speaking to someone first.

Thanks neighbor!

David