Most lenders charge fees to refinance a loan. So, if you plan to only stay in the property for a couple of years, your monthly savings may not accumulate to recoup these costs. Example: A lender charged $1,000 to refinance your loan that resulted in saving you $50 each month; it would take 20-months to recoup your initial costs. Some lenders will charge a slightly higher than average interest rate on refinance loans, but will waive all costs associated with the loan. This will depend on the interest rate on your current loan.
The MABA PAC is one of the most influential Latino organizations in California and is comprised of members that are attorneys, civic leaders and business people from diverse ethnic backgrounds.
3250 Wilshire Blvd. Suite #1900
Los Angeles, CA 90010
Phone: (424) 292-5400