Refinance - Frontier 2000 Mortgage & Loan Inc. Offers Great Rates on Refinance Home Mortgages in

Frontier 2000 Mortgage & Loan Inc. Specializing in Refinance, Refinance Home Loans, Refinance Mortgages

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                     Live Your Dream Equity Refinance

Refinance your High interest credit cards into one low monthly payment with a home equity
loan/home equity line of credit. A home equity loan/line can let you use the equity in your
home to consolidate bills, pay for college, or handle unforeseen expenses.

A home equity loan is a regular first or second lien mortgage loan that allows you to tap the
equity in your home (up to 80% of the apprasied value in Texas). In Texas these loans do
not have a pre-payment penalty, so you can repay your loan in full whenever you are ready to do
so.  Certain restrictions do apply, and your loan consultant will be able to provide you with complete guidelines for this product. Higher loan to value limits are available in other states, so be sure to specify to the location of the home

A home equity line of credit also allows you to tap in your home (up to 80% in Texas). But
unlike the home equity loan, the home equity line allows you to draw that equity when you are
ready, pay it back, and then redraw it for up to 10 years. This gives you flexibility to use your
equity when you need it and then pay back your loan.

Call today for a consultation to determine whether a home equity loan/line is right for you.

Loans That Recast

We offer specialty loans to make your life easier. Many of our loans are designed to recast after principal reduction payments. For instance, if you purchase a new home and then sell your existing home and you want to make a large principal reduction payment, you can do so as long as your loan does not have a prepayment penalty. With an ordinary mortgage loan, your principal is reduced, but your monthly payment does not change.

However, with a specialty loan that recasts, you can pay $250.00 once a year and recast your loan after a principal reduction payment of at least $10,000.00. Your loan will be re-amortized to reflect your new principal balance so that your payment will decrease.

Certain restrictions apply. If you are interested in recasting, please tell your loan originator that you would like a loan with this feature.

Refinance Your Loan

Refinance your fixed or adjustable rate mortgage into a new shorter term fixed rate mortgage. With mortgage rates so low, now is the time to refinance into a lower interest rate, a fixed interest rate, or a shorter term.

A Rate & Term Refinance can be used to remove mortgage insurance, to correct escrow shortages for taxes and insurance, and to fix adjustable interest rates. The right loan can help you build equity faster in your home and can save you hundreds of dollars a month in interest and MI. And in most cases, your closing costs roll into your new loan, making it possible for you to close with little cash out of pocket.

In deciding whether a refinance is right for you, consider the following:

How many years are left on your current mortgage?

Because mortgage interest is paid in advance, during the first 5-10 years of the mortgage, a refinance will save you the most money since the majority of your monthly payment is going toward paying the interest. After year 15, a refinance simply to lower the interest rate may not make sense.

How much equity to do you have in your home?

Typically, a refinance to lower the rate or fix the term will cap your loan amount at 90-95% of the appraised value of the home. If there is not enough equity in your home, you might have to bring in money to close.

How much is your current interest rate?

Refinancing for small incremental changes to your interest rate may not make sense unless you are also removing mortgage insurance or fixing your taxes at their correct rate. For instance, a refinance which changes your note rate from 6.25% to 6.0% would probably not be a good investment. However, if you are also using the appreciation in your home to finance the new loan without MI and your current MI is $200.00 a month, the new loan could be very cost effective.

How much are your costs?

Many lenders advertise no closing cost refinances. However, to achieve no closing costs, they have to charge a higher interest rate, which over the life of your loan may cost much more than paying a few closing costs. Be sure to compare apples to apples when looking at estimates from different lenders.

Get a free, no obligation estimate. Our company charges no application fees. The only out of pocket expense to you is the cost of the appraisal if you decide to go forward with the loan. So call today, and let one of our experienced loan originators show you how the right loan can help you.

Let our experienced loan officers show you how the right loan can bring your dreams to life.

Apply online or call today.

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