What is a YOURgage?
A YOURgage is a conventional loan option from Quicken Loans that provides a bit of customizability when it comes to picking your term, allowing you to pay off your loan in the time frame you’re comfortable with.
Is Rocket Mortgage trustworthy?
Rocket Mortgage® may be a good option if you’re facing a competitive real estate market. The company offers a verified approval letter that may help you compete against cash offers. It also offers a choice of loan repayment terms (in a broad range), but fewer loan options than some other lenders.
Can I refinance for 8 years?
One of the shortest mortgage loan terms you can get is an 8-year mortgage. While less popular than 15- and 30-year home loans, an 8-year mortgage loan will allow you to aggressively pay down your home loan, and, in turn, own your home outright in less than a decade.
Can you get 8 year mortgage?
You’ll choose a loan term from 8 to 29 years. This will give you some control over your monthly payments. Because your interest rate is locked for the life of your loan, your principal and interest payments won’t change over time. You may see the amount of tax and insurance change.
What do you know about Quicken Loans?
Quicken Loans is the largest online retail mortgage lender, according to National Mortgage News. Its parent company is Rock Holdings, Inc. It does, however, offer a range of mortgage products, including fixed-rate mortgages, adjustable-rate mortgages, FHA loans, VA loans and jumbo loans.
Should I refinance 10-year mortgage?
Refinancing into a 10-year mortgage can allow you to secure a lower interest rate without extending your repayment term. Although rates can differ depending on the lender and your own finances, 10-year refinance rates are generally lower than other terms, like 15- or 30-year mortgages.
What is the shortest time you can have a mortgage?
The shortest mortgage term you can get is 5 years. This type of mortgage is often reserved for those who can afford the high monthly repayments and want to avoid interest repayments, whereas fixed rates allow borrowers certainty and the ability to plan around fluctuating rates.