UCONN Home Refinancing Now At 2.5
 
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To file an escalated case, you or any third party representing you, such as a housing counselor or attorney, should send us a brief letter describing the specific reasons you believe one of the above scenarios applies to your loan or to your application for home loan assistance. Even though ARMs currently sit at 6.57%, your rate will only rise to 6% for next year. The advanced report also provides an amortization schedule that shows how your payments will be applied to the loans principal and interest. Also, review your loan documents to see if any rate caps or floors apply that refinancing now at 2.5 will limit the interest rate move when the rate adjusts next spring.

It was a short jump from there to practicing, teaching, writing and breathing tax. A 0.5% difference in rates on a $200,000 mortgage translates refinancing now at 2.5 to $78.44 a month, or $941.28 a year, more in payments. That would mean that a 4.5% interest rate would save you more and it will take less time to reach the break even point.

HARP requires the new loan to provide the same level of mortgage insurance coverage as the original loan. As part of our FatWallet Community, you can share deals with almost a million shoppers in our forums.

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