Refinancing Into a 2.75% Fixed Rate, 15-Year Mortgage

Ok, so it’s not a Porsche or a 2 week Hawaiian vacation, but you could do worse than scoring a 15 year mortgage at 2.75% today.

What that says about you:

–You own a home;
–You actually have equity in your home — and therefore can borrow against it;
–You have a job (that other little requirement lenders insist on);
–You have high credit scores, which qualify you for lenders’ best (and absurdly low) prevailing interest rates today; and
–You are financially comfortable enough to shoulder the bigger monthly payment associated with a 15 year (fixed) mortgage.


If you satisfy all of the above, you’re in a select minority these days.

P.S.:  The foregoing assumes the refinancing homeowner paid market (vs. exorbitant) fees to get the 2.75%.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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