Real estate blog entries tagged with rate term refinance by Illinois Financial Advisor Greg Zaccagni (Farmers Insurance)

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Home : Blogs : Illinois Financial Advisor Greg Zaccagni : Greg 's Blog : Tag "rate term refinance"

rate term refinance: Rate & Term vs. Cash Out Refinancing - 08/12/09 08:38 PM

You are replacing your old loan with an entirely new one with different interest rate and terms. Your new mortgage may come from the same lender or another. Since the new loan pays off your old mortgage it doesnt much matter whether you change lenders in a refinance.
Most borrowers choose to refinance their mortgage to take advantage of lower interest rates, consolidate higher (non-deductible) interest rate debt, or to cash out equity in their home.
A rate and term refinance trades in your old mortgage(s) without raising the loan amount. You may be permitted to see some (minimal) cash at close. Usually the lesser of two … (0 comments)

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Illinois Financial Advisor Greg Zaccagni

Wheaton, IL

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Farmers Insurance

Address: Dupage, Kane, Cook County etc.., Wheaton, IL, 60189

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