You’re prepayment penalty is equal to the next 6 months of interest. Find out which loan you have the penalty on and if you have a lot more equity then 20k + the penality then your monthly payment should be less, other wise it most likely will not be cheaper unless you get an interest only or a 40 or 50 year loan.
I work for Providential Bancorp, a nationwide lender in Downtown Chicago. I would be happy to assist you in getting that $20k cash out. I will be back in my office on wednesday July 5th after the holiday. My name is Jason, you can call me at 312-264-6448, or. Once we speak i can give you A free analysis as to what we can do for you! I look forward to speaking with you!
February 6th, 2010 at 6:27 pm 1
Has your house gone up that much in value in one year? The $20,000 plus the prepayment penalty? Probably not.
February 8th, 2010 at 3:59 pm 2
You’re prepayment penalty is equal to the next 6 months of interest. Find out which loan you have the penalty on and if you have a lot more equity then 20k + the penality then your monthly payment should be less, other wise it most likely will not be cheaper unless you get an interest only or a 40 or 50 year loan.
February 11th, 2010 at 10:09 am 3
I work for Providential Bancorp, a nationwide lender in Downtown Chicago. I would be happy to assist you in getting that $20k cash out. I will be back in my office on wednesday July 5th after the holiday. My name is Jason, you can call me at 312-264-6448, or. Once we speak i can give you A free analysis as to what we can do for you! I look forward to speaking with you!
Enjoy your holiday weekend!
Jason Fry