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Guidelines
for making a mortgage decision for purchasing property in
CITY |
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Benefits
Of Refinancing |
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| 1. |
Refinance to pay off your 1st mortgage
and reduce your mortgage rate and monthly payment. |
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| 2. |
Refinance to pay off your 1st mortgage and take
out some extra cash. |
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| 3. |
To pay off your 1st and 2nd mortgages (excluding
home equity lines) and reduce your mortgage rate and monthly
payment. |
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| 4. |
To pay off your 1st and 2nd mortgages (including
home equity lines) and take out some additional cash. |
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| 5. |
To pay off your 1st mortgage and your home home
equity line, closing your home equity line to any further advances.
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| 6. |
To pay off your 1st mortgage and your home equity
line, paying the home equity line balance to zero but leaving
the equity line open to further advances. |
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| 7. |
To pay off your mortgage(s) and reduce your
mortgage term (i.e. refinancing a 30 year to a 15 year). |
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| 8. |
You currently have no mortgage liens on your
property and wish to obtain cash by applying for a 1st mortgage. |
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| 9. |
You currently have a construction mortgage loan
and wish to pay it off and obtain permanent financing. |
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