Do you want to refinance but don’t want to start over on another 30 year loan? You no longer have to with or new FLEX mortgage. You can make the loan term whatever you want from 8 years up to 30. For instance if you’ve been paying your 30 year mortgage for 6 years you could refinance into a lower rate and make the new term for 24 years. This way you’re not starting over and you still get the benefit of paying a lower rate and payment.
This also works on a purchase. Don’t want a 30 year loan but can’t afford the payment on a 15 year mortgage. Use are FLEX Mortgage to make the term whatever you choose. Maybe a 21 year loan would work better. If you plan on retiring in 18 years. Choose an 18 year term so your mortgage will be paid off just in time for retirement. Coastlend Mortgage is always innovating to bring our clients the best loan products for the needs.