Monday, September 18, 2017

Corpus Christi TX Mortgage Rates - Find Home Loans

Corpus Christi-Texas mortgage Rates? 


Those Corpus Christi- Texas mortgage borrowers looking for Lowest mortgage rate. This article would be helpful.

 Corpus Christi TX MortgageIn my experience, I have seen that Texas mortgage borrowers look to refinance towards the end of the year. This is because Texas property taxes are very steep. So if a mortgage borrower has set up an impound account where he is paying his taxes and insurance with the mortgage. When he Refinances Corpus Christi TX Mortgage at the end of the year. He not only gets the lower rate but gets a bank wire of the escrow reserve kept with the bank or the lender into mortgage borrower’s account in 45 days from the date he closes the loan.

So let’s see how it works as an example. In November of 2017, the mortgage statement reflects that the escrow reserve is about $ 6000 with the mortgage borrower’s lender. This is to be utilized towards repayment of property taxes that are due to be paid in January to the county.

So if Texas borrower initiates his refinance in November. This $ 6000 comes back to the borrower in his wallet without taking cash out from the mortgage. He gets to skip one month of the mortgage payment. So if you assume that the mortgage payment is another $ 1800 which is a reasonable sum to assume.

He has basically earned or saved $ 6000+ $ 1800 = $ 7800

Christmas is around. So he would have expenses to be put in his credit card but with this kind of money coming to him. He knows that even if spends a bit on his credit card. He would be able to repay without revolving the payments his card out of the money he is getting back from his own escrow reserve and he never had to borrow cash from his home.

Isn’t it a smart way of refinancing the home without borrowing taking a cash-out refinance on the home. In Texas, if you take a cash out even once on your home. No matter how many times you refinance and you may never borrow any cash later but it will always be assumed as if you are taking cash.

This is detrimental to Texas mortgage borrowers because they always get a higher rate. As the rule is once a cashout loan was taken considering that borrower is taking cash out each time get refinances for life on the property. The reason why it's detrimental is that you always qualify for a slightly higher rate than normal rate and term loan each time for life.

These are some of the smart ways of refinancing and managing your finances without taking cash and yet getting cash to spend. Someone who has medical bills or car loan or credit card bills to pay off.
 So Corpus Christi-Texas mortgage borrowers looking for lowest mortgage rate need to speak to Texas mortgage expert for help.

For more information visit www.affordable-payment.com or call 323-705-3191 if you are a California Mortgage borrower or If Texas Mortgage Borrower call 713-463-5181 EXT 154


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