Can I Get a Discount on my Mortgage?
So you’re trying to refinance… Perhaps you’re eligible for a Discount? No? Well, you don’t know until you try! Read on to see if you can save some green on your refinance!
When you speak with your MLO, don’t be afraid to speak up! Ask if you qualify for any discounts based on your financial status or where you’re looking to buy.
More people are eligible than you may think…
Statistics show that one out of four borrowers is eligible for an affordable lending discount, and that number is growing every day. Certain factors determine these discounts: your location, income, or the median income in the area where your home is. And discounts aren’t just for first-time homebuyers — they’re also available to experienced homebuyers and refinancers.
Home Affordable Refinance
The Home Affordable Refinance Program was created by the Federal Government and is designed to help homeowners refinance their mortgages (even if they owe slightly more than the current value of their homes). The program could be beneficial for some borrowers, though there are aspects to consider regarding its rules.
Many borrowers miss the opportunity to obtain a Discount on their Mortgage the first time around. Don’t let it happen with the ReFi!
To see if you can save on your refinance, click here.