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| LIBOR Loan |
| 10.30.04 (1:27 pm) [edit] |
Click here for complete info, current rates, and lenders for all LIBOR Index Loans
For Example: Let's say you owe $100,000 on a regular 30 year fixed rate mortgage at 6.5% and you want to reduce your monthly payment with a refinancing to the 6 Month LIBOR Loans at 2.75%, your monthly payment would drop from $632.07 to $229.17 on the 6 Month LIBOR Loans, a savings of 64% per month and you have the comfort of knowing that you are linked to the internationally recognized LIBOR index. And if the rates went to 8.75%, which is the worst possible case, your payment would be capped out at $729, which is not too far from the regular 30 year fixed rate mortgage payment of $632.07.
Click here for complete info, current rates, and lenders for all LIBOR Index Loans
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