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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.
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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.
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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.
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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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