Rate Term Refinance
The process of paying off one loan with the proceeds from a new loan, using the same property as security. Cash received by the borrower at closing may not exceed $2,000 (not allowed in Texas). Status varies depending upon State Law. The purpose is, as the name implies, to reduce the interest rate, payment, and/or overall term of the mortgage.
Advantages:
- Reduction of the interest rate, payment, and/or overall term of the mortgage
- Limit of $2,000 cash (varies depending upon State Law)
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Notices. Saturn Commercial Finance Inc., dba Titan Lending Solutions NMLS ID #2480814 (www.nmlsconsumeraccess.org), 4445 Willard Ave., Suite 600, Chevy Chase MD 20815. This is not an offer to enter into an agreement. Information, rates, and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Titan Lending is not affiliated with any government agency. Copyright © 2023. All rights reserved. Equal Housing Opportunity Lender.
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