In the President's State of the Union address, he told homeowners that if they refinanced at today's historically low rates, they could save up to $3,000. This statement can be found in the State of the Union transcript - http://www.whitehouse.gov/the-press-office/2012/01/24/remarks-president-state-union-address. Additionally, homeowners who refinance from 30 year fixed mortgages to 15 year fixed mortgages can save up to $145,000. Further information for this can be found at http://www.nytimes.com/2011/08/21/realestate/exploring-the-15-year-loan-for-refinancing-mortgages.html Rate-Watch is not acting as a lender or broker but rather a service designed to provide the consumer leverage in regard to having the opportunity to choose from multiple low rate offers provided by multiple competing, top, direct lenders. When lenders know they are competing to earn your business, they are naturally inclined to provide their lowest/best mortgage rates up-front thus shifting the important balance of power from lender to consumer. The information provided by you to Rate-Watch is not an application for a mortgage loan, nor is it used to pre-qualify you with any lender; but rather intended solely to provide Rate-Watch the opportunity to engage multiple lenders in the network to try and outmatch one another on your behalf to assure you are presented with their best offers. If you are contacted by a lender or broker advertising within our network, your quoted rate may be higher depending on your property location, credit score, loan-to-value ratio, debt-to-income ratio, and/or other factors. Rate-Watch does not offer its matching services in all states. This loan may not be available for all credit types, and not all service providers in the Rate-Watch network offer this or other products with interest-only options.
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