Refinancing Our Home

With home mortgage interest rates so very low, we decided to check into refinancing our home.  We'd always heard that if you can lower your interest rates by 1%, it would be a good idea.  If this goes through, we'll lower ours by 2.25% - and there are $0.00 due at closing. (Nice!)

I thought these two documents might be useful to anyone shopping for a home mortgage.  Kinda surprising to find the first page (top part) actual loan document.  Thought the second page (bottom part) was interesting, too.  These were buried about halfway through the 56 page document.

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I hope you can read it.  If you right-click on the picture you should be able to copy, paste to your desktop, then open and enlarge it...

We've bought and sold several homes over the years, and this is the first time I've found such a handy piece of work.  I just HAD to share it.

If we ultimately like our mortgage broker as much as we do right now, I'll be glad to share their information so you can work with them, too.  I know they'd be good for anywhere in Texas, and they can probably manage in other states as well.  I know loans vary from state to state - like in Texas there is no financial penalty if you want to pay the loan off early.  I don't know, it might be a good idea to work with a mortgage broker that is intimately familiar with a particular state's laws?

We now have readers of our blog in South Korea and the Phillipines.  I wonder how one accomplishes home ownership there...