What is NVRmortgages.coms rolldown option?
NVRmortgages.com’s rolldown option allows you to refinance for free*! While the rate is slightly higher, you will pay no fees to get your new loan. In effect, as long as our rolldown rate is lower than your existing rate, it makes financial sense to refinance because there is no cost to do it. *A “rolldown” loan is one in which the lender pays all non-recurring closing costs for borrower. Borrower is still responsible to pay all pre-paid 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 borrower will escrow monthly property tax and insurance payments.
