Urges Americans to Switch to A 15-Year Fixed
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Based on the two scenarios above, a homeowner could save hundreds from switching from a 15-year fixed-rate loan (payment of $1,504.56) to an adjustable rate mortgage (payment of $969.30), resulting in a savings of $535.26.

30-Year Fixed-Rate Mortgage:
The payment on a $200,000 30-year fixed-rate loan at 5.625% (6.087% APR) with 0 points and an LTV of 97% is $1,241.32, which includes a mortgage insurance payment of $90.00. Taxes and homeowners insurance are not included. The actual payment will be greater. Rates shown valid on publication date of 11/07/18. Product available on fixed-rate conventional products only. No FHA, VA or jumbo products. Additional restrictions/conditions may apply.

To qualify for these loan programs, you must be at least 18 years of age with a valid U.S. residency. Guidelines may vary for self-employed individuals. Formal approval will be subject to satisfactory verification of income, assets, credit, property condition and value. Additional restrictions/conditions may apply.
Cash-Out Refinance:
The average homeowner with a mortgage has gained $12,400 of equity in their home this year available to draw and use, that homeowners are missing out on. Due to the new tax laws, not all uses of cash from HELOC's are tax deductible, which is a loss of a major benefit for consumers who are interested in tapping into that equity. Therefore, cash-out refinances may be more appealing to individuals interested in refinancing, because they maintain their tax deductible benefits that are not as available under HELOC.
https://www.cnbc.com/2018/01/08/homeowners-are-sitting-on-trillions-in-cash.html
https://www.theday.com/article/20181214/BIZ04/181219816

Out of the 51.7 million homeowners with a mortgage in the United States, 43.6 million have tappable equity. This means that 84% may have available equity or cash that they can use in their homes.
https://cdn.blackknightinc.com/wp-content/uploads/2018/12/BKI_MM_Oct2018_Report.pdf
https://www.blackknightinc.com/black-knights-october-2018-mortgage-monitor/

12-Month Low Rates: https://www.apnews.com/f33a8bce81e145f5bef0e97c8e449bdb

Furious Pace and Cutting Your Number of Payments in Half assumes refinance from a 30- to a 15-year fixed-rate mortgage

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