Posted on: 06th Nov, 2010 06:56 am
I currently have 62 payments left on a 15 year note at 6.25% with a balance of 286,000. My question to the forum is there a mortgage available at a lower rate to make refinancing worthwhile without increasing my 62 month payoff? Something like a true 5 year fix amortized for five years?
Hi ubatuba,
You can get a mortgage for a short term period. You should contact the local lenders of your area and they will go through your financial situation in order to let you know what type of rates and terms you'll qualify for.
You can get a mortgage for a short term period. You should contact the local lenders of your area and they will go through your financial situation in order to let you know what type of rates and terms you'll qualify for.