Got a lot of call from Quicken Loans each day, probably offering lower interest in refinancing.
On Thursday, August 6, 2020, 02:58:03 PM EDT, Quicken Loans <[email protected]> wrote:
We have some surprising info for you. View Online
Rocket Mortgage by Quicken Loans
You can secure your financial future by refinancing with today’s low rates. If your current rate is above 3%, you could be saving big right now.
Have you thought about a 15-year fixed-rate mortgage? Because 15-year rates are so low – 1.99% (2.357% APR)1 – you could reduce your term without drastically increasing your current payment, saving you thousands in interest and cutting years off your mortgage.
In this example, we show how a client with a 30-year mortgage financed a few years ago can save thousands when they refinance to a 15-year mortgage with today’s rates.
30-Year Starting January 2018
3.50% Total Interest Paid
Loan Amount $250,000.00
Total Payment $404,140.22
15-Year Starting August 2020
1.99% Total Interest Paid
Loan Amount $240,000.00
Total Payment $277,797.00
In this example, the client could save $116,343.34 in interest and pay off their loan 13 years sooner.
When you’re ready to start saving, give us a call at (833) 380-5558.
Highest in Customer Satisfaction in the U.S. – J.D. Power | 10 Consecutive Years – Primary Mortgage Origination – 2010-2019 | 7 Consecutive Years – Mortgage Servicing – 2014-2020
1The payment on a $240,000 15-year fixed-rate loan at 1.99% and 70% loan-to-value ratio (LTV) is $1,543.32 for the cost of 2.5 points due at closing. One point is equal to 1% of your loan amount. The annual percentage rate (APR) is 2.357%. One point is equal to 1% of your loan amount. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Rates shown valid on publication date of August 05, 2020. Some state and county maximum loan amount restrictions may apply.
For J.D. Power 2020 award information, visit jdpower.com/awards.
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Quicken Loans, LLC; NMLS #3030; www.NMLSConsumerAccess.org . Equal Housing Lender. Licensed in 50 states. AR, TX: 1050 Woodward Ave., Detroit, MI 48226-1906, (888) 474-0404; AZ: 1 N. Central Ave., Ste. 2000, Phoenix, AZ 85004, Mortgage Banker License #BK-0902939; CA: Licensed by Dept. of Business Oversight, under the CA Residential Mortgage Lending Act and Finance Lenders Law; CO: Regulated by the Division of Real Estate; GA: Residential Mortgage Licensee #11704; IL: Residential Mortgage Licensee #4127 – Dept. of Financial and Professional Regulation; KS: Licensed Mortgage Company MC.0025309; MA: Mortgage Lender License #ML 3030; ME: Supervised Lender License; MN: Not an offer for a rate lock agreement; MS: Licensed by the MS Dept. of Banking and Consumer Finance; NH: Licensed by the NH Banking Dept., #6743MB; NV: License #626; NJ: New Jersey – Quicken Loans, LLC, 1050 Woodward Ave., Detroit, MI 48226, (888) 474-0404, Licensed by the N.J. Department of Banking and Insurance.; NY: Licensed Mortgage Banker – NYS Banking Dept.; OH: MB 850076; OR: License #ML-1387; PA: Licensed by the Dept. of Banking – License #21430; RI: Licensed Lender; WA: Consumer Loan Company License CL-3030. Conditions may apply.
Quicken Loans 1050 Woodward Ave. Detroit, MI, 48226-1906, United States
Email ID: 1531\Adhoc_20200805_Servicing_Rate_Compare