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What is American Mortgage Specialists rolldown option?

April 26, 2017American mortgage option rolldown specialists

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What is American Mortgage Specialists rolldown option?

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A rolldown loan is a refinance loan with few upfront fees; the lender pays all non-recurring closing costs for the borrower. The borrower is still responsible for paying all prepaid interest, property taxes, and hazard insurance, as well as all other recurring items. Minimum loan amount for the rolldown is $150,000. Closing costs assume that the borrower will escrow monthly property tax and insurance payments.