In the case of a rate / term refinance the homeowner is normally allowed to receive a nominal amount at closing, typically $ 1,000 or less, but nothing more. (madisonmortgageguys.com)
These are historically low interest rates by any measure, and they offer a powerful enticement for home buyers and refinancing homeowners alike. (homebuyinginstitute.com)
About 35 percent of refinancing homeowners chose shorter - term loans that year, saving themselves about half a percentage point in interest compared with a 30 - year loan, Freddie Mac economist Frank Nothaft says. (rismedia.com)