30 year jumbo home loan? - jumbo home loan
When my wife and I have our home three years ago, Countrywide was our first home.
We got what we thought was a normal 30 years fixed rate mortgage. It turns out that this is a jumbo fixed rate mortgage for 30 years. At that time I did not see much of him and thought it was a normal mortgage of 30 years. Since then I've discovered that all mortgages classified as "Jumbo", carries a higher interest rate.
The purchase price of the house was not high enough to enter the rank of a jumbo size. Is there another reason that the mortgage as a jumbo loan "instead could be treated, has a normal or Countrywide tries to maximize profits at a higher rate of interest under the loan to Jumbo?
Since we refinanced, so as I came to discover that we are now in a "standard" loans, there were no giants no longer on the loan.
Monday, January 18, 2010
Jumbo Home Loan 30 Year Jumbo Home Loan?
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2 comments:
Read your contract a penalty for prepayment. If it does not in itself the ability to save thousands of dollars in payment for your home in half the time. Get the financing of companies to give a detailed account of 30 years. This is a monthly interest and principle. You will notice that the first 15 years of payment, but nothing interesting. As they fight with their own weapons to the declaration and payment for the month and you will see the following months, in principle, to highlight it. Say that the payment is $ 800.00 $ 100.00.Make August and early September, that $ 900,00. In the background checks to keep the balance at the beginning of September. They make two house payments, and it is legal. Act provides that if no principle of the interest due. You must keep accurate records Heep and make every month. You will save thousands, and your house is to be paid over 15 years. His house cost him only $ 75,000.00 $ 150,000.00.
Read your contract a penalty for prepayment. If it does not in itself the ability to save thousands of dollars in payment for your home in half the time. Get the financing of companies to give a detailed account of 30 years. This is a monthly interest and principle. You will notice that the first 15 years of payment, but nothing interesting. As they fight with their own weapons to the declaration and payment for the month and you will see the following months, in principle, to highlight it. Say that the payment is $ 800.00 $ 100.00.Make August and early September, that $ 900,00. In the background checks to keep the balance at the beginning of September. They make two house payments, and it is legal. Act provides that if no principle of the interest due. You must keep accurate records Heep and make every month. You will save thousands, and your house is to be paid over 15 years. His house cost him only $ 75,000.00 $ 150,000.00.
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