If you refinance a 30 year loan that has been paid on for 10 years does the new loan start over at 30 years or does it continue from the 10?
If you refinance a 30 year loan that has been paid on for 10 years does the new loan start over at 30 years or does it continue from the 10?
If you refinance a 30 year loan that has been paid on for 10 years does the new loan start over again at 30 years or does it continue from the 10 years already paid?
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Welcome jbrandyberry,
If you go for a 30 year loan term, then the new loan term will start all over again and you will be liable for paying off th mortgage for the next 30 years. If you want to go for a 15 years loan term, then you will have to pay the loan for the next 15 years.