So if I have a loan through someone other than Fannie Mae or Freddy Mac, and I have paid my mortgage on time every month and just want a lower interest rate to save money, I am screwed. I would love to refinance to the interest rate that is floating around right now, but my Breckenridge house has not gained in value according Breckenridge Zillow source (of course), so I can't get a new loan due to the loan to value ratio. My mortgage is only 10% of my income, but the extra few hundred bucks a month would be great - however I must continue to pay my high interest rate because I was a responsible home buyer, and let those who were frivolous and spent way beyond their means get help. B.S. sad isn’t it They probably want a lower rate but may not have enough equity in their home to refinance. This gives them a chance. Goverment real estate indicator is going to do this he should just say that everyone will be locked in at say 5% interest. So if your interest is higher than 5% then it will automatically change if you have lower then no change. Forget about all these refi fees and dealings with banks.
Re: Thank you
як Aaron Collins (2025-11-09)
З приводу Thank you
So if I have a loan through someone other than Fannie Mae or Freddy Mac, and I have paid my mortgage on time every month and just want a lower interest rate to save money, I am screwed. I would love to refinance to the interest rate that is floating around right now, but my Breckenridge house has not gained in value according Breckenridge Zillow source (of course), so I can't get a new loan due to the loan to value ratio. My mortgage is only 10% of my income, but the extra few hundred bucks a month would be great - however I must continue to pay my high interest rate because I was a responsible home buyer, and let those who were frivolous and spent way beyond their means get help. B.S. sad isn’t it They probably want a lower rate but may not have enough equity in their home to refinance. This gives them a chance.Goverment real estate indicator is going to do this he should just say that everyone will be locked in at say 5% interest. So if your interest is higher than 5% then it will automatically change if you have lower then no change. Forget about all these refi fees and dealings with banks.