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C’mon! Do I HAVE to get a 30 or 15 yr term??

Mortgage and Lending Corportate NMLS#229844



How about YOU choose the term you want? Does an 8, 10, 12, 15, 20, 22, 25 or even sticking with that 30 yr term sound good to you for possible options?  Often times I have past clients who call me back to check on rates and refinancing.  After going through different options and I show them that it is possible to reduce their monthly payment and/or save them money… I sometimes I hear “Very interesting, Steve but then I’d have to add back 3 yrs (or 5 or 7yrs etc) to my term and I’ll be back where I started with this current loan right?

If part of your long-term financial goals is owning your home free and clear… then use all the options that you have to your advantage.  You as the borrower can choose your rate, your closing costs, your term, your title company and which day of the month you close on.  You even have a choice of MI (Mortgage Insurance) and which MI company to use... didja know that?

Have Your Favorite Mortgage Guy look at keeping your Term the same as what you have left on your current loan or just pick a Term that YOU feel comfortable with. 

After all, it’s your American Dream… ain’t it?



Posted by


Steven Brand - NMLS#261849  - Hancock Mortgage  - 612.386.5306

Branch Manager / Strategic Mortgage Consultant  & VA Expert