Townstone Financial

Mortgage rates hold steady with a refinance boom continuing and purchase activity ramping up quickly! We’ve all heard of the 30-year mortgage, but have you heard about a 29-year mortgage? Lower rate than a 30-year, no higher on the monthly payment. This previously unheard-of great deal is currently set to expire June 30th, so make sure you head to Townstone.com to fill out a free consultation to see how much money this can save you. Finally, some clarity on your ability to refinance while in forbearance: On any loan currently in forbearance where you are making payments on time, the loan can proceed. You're good to go. For any loan currently in forbearance where you are not making payments: The loan must be brought current in order to close. On conventional loans: If you have entered a workout plan (post forbearance), we have to show underwriting three consecutive payments on the new plan. On FHA or VA loans: if you’ve entered a workout plan (post forbearance), all payments on the plan must be complete. Ei