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Company Loan Type APR Est. Pmt.

TWO STEP MORTGAGE

Posted on: 08th May, 2007 07:50 pm
can i refinance my two step mortgage during the last year of the fixed rate (lets say 7th year) so i avoid the higher adjustable rate?
thank you
Hi Danidori,

Welcome to the forums.

I don't think you can refinance the two-step mortgage until the fixed rate period is over. This is what your loan contract must state legally and as such if you refinance, you will be breaking the contract rules. Still, you may talk to the lender on this issue. He may agree at the cost of you paying some kind of penalty.

Take Care
Posted on: 08th May, 2007 09:19 pm
You can refinance the loan even during the 7th year.
Posted on: 08th May, 2007 10:48 pm
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