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Time-Saver Program

Started by dg156
over 15 years ago
Posts: 269
Member since: May 2007
Discussion about
I'm thinking of refinancing my home loan with the same lender that originated the loan and came across one of their programs which is called "Time-Savers Program". The program essentially streamlines the paperwork/process by only requiring that you submit an application; no supporting documentation (ie.bank statements, etc.)is needed. Has anyone heard of this prograam and are there any downsides to the program?
Response by truthskr10
over 15 years ago
Posts: 4088
Member since: Jul 2009

"any downsides to the program?" yeah it eliminates ALL competition.

Isn't shuffling a few extra papers worth saving even $1K?

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Response by NYmortgage
over 15 years ago
Posts: 51
Member since: Dec 2009

DG, typically these loans don't offer you the current market rates. While you'll save on closing costs, you'll be leaving several basis points on the table. It's best to compare both but a lot will depend on your loan amount, what type of property it is, and where it's located.

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