79 Basis Points Gone from Cost of Mortgage

If you have a qualifying FICO of at least 760 and want to refinance your primary residence, you may be able to get 79 basis points (0.79%) from the cost of your new mortgage. The unpaid principal must be less than 80% the home value which must be a single family residence.

One of our lenders is offering this discount on refinance loans locked by the end of September 2020. Mortgage interest rates are really low right now. The Federal Housing Finance Authority moved a 1/2% surcharge on refinances to December 1, 2020. This is a good time to consider cost savings to refinance at a lower interest rate today. Give us a call to find out if you could possibly save this way.