jtheune
Ejection Handle Pulled
I have a current wells Fargo mortgage on my house. I happened to speak with my mortgage broker there today and found out that they have a program for recasting loans. If you are current , have equity in your house to meet their requirements ( I don't know specifically what they are ) and you are interesting in a refi they will recast the loan at the current interest rate with no out of pocket or fees added to your loan. basically they will pay all the costs of doing the refi. I just got locked in at 3.75 on a 15 year note. If I keep making the same loan payments I will pay the loan of 2.5 years sooner then before or I can save 284 a month. When I asked how this could be they told me it's better for them to keep the customers then to have to qualify someone new so they are willing to eat the costs. I did not see anything about this program on thier website nor any ad for it but I'm not surprised as they are just giving away money with this program but I can see the logic of keeping their portfolio going.
PS. This is really not a ad for Wells Fargo, I'm just a happy customer. check with your current bank and see if they have something similar.
PS. This is really not a ad for Wells Fargo, I'm just a happy customer. check with your current bank and see if they have something similar.