Posted on: 28th Oct, 2010 11:27 am
have lump sum trying to decide best way to plan for future. thought about rental property but not very many tax advantages. Since I have jumbo lone on primary, Can I pay down and lower interest rate without too many fees?
Married, Wife 2 kids, own one home.
Married, Wife 2 kids, own one home.
yes, you can certainly pay down your jumbo loan, stephen; but lowering your interest rate would probably require you to refinance rather than simply request a change. the existing loan would most certainly have been transferred to an investor, so the pricing on it is in stone. unless you're in danger of default, it's not at all likely that the lender would be considering a reduction in your rate (as they would with a modification deal).