Re: a quick mortgage question
I'm sure he would've advertised this if it was available since it makes money for the bank, but my lender allowed me to lock in and then pay a "downdraft" fee ( I believe that's the name ) if the rates went down ... I think the fee was $180 each time I opted for the downdraft, but in the end I got 3/8th of a percent off the original lock in ...
You may also want to inquire about bi-weekly payment options as that's about 1/8th of a percentage less than normal monthly plan ... ends up being like a 24 year mortgage as well ( assuming no extra payments ) so you do save quite a bit in interest
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