If you originally purchased or previously refinanced your home
with a FHA Buy-Down loan, this may be an excellent time to convert it to a fixed rate
mortgage. First, it is
important for you to determine what the final interest rate will be of your 2/1 buy-down
loan. In order to determine you final rate you will need to locate a copy of your
"Note". This is the 2-4 page letter size document that you signed at the escrow
or title company that indicated the loan amount as well as your interest rate. In this
document, you will find what your start rate was and what the final interest rate will be.
If the final interest rate is higher than the currently available fixed rate mortgages,
you may want to explore your options of doing a no cost FHA streamline refinance.
To learn what you refinance
options are simply click on the following link to obtain a free >>> Free Savings Analysis
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