Nonstandard mortgage refinancing is an option for people that want to refinance their mortgage to take advantage of these incredible rates but don’t want to have to settle for a standard 15 or 30 year repayment term. While not very common, nonstandard mortgage refinancing is gaining popularity.
I found an interesting article explaining some of the reasons why people would want a nonstandard refinance. Read on…
Today’s record-low interest rates have lots of homeowners debating whether to refinance into 15- or 30-year mortgages, but few realize lenders offer products with all sorts of repayment periods — from five-year “balloon” mortgages to 29-year loans.
Although normal repayment terms are suitable for most homeowners, it isn’t the case for everyone. We have loan programs available for those who want nonstandard mortgage refinancing products. Contact one of our mortgage professionals at SLS Mortgage of Culpeper to discuss your nonstandard refinancing needs today. (540) 216-0665