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Is it possible to increase the amortization of an existing mortgage?

Anonymous

∙ 17y ago

Updated: 9/13/2023

No. You can apply additional money to your monthly payments and that will accelerate your payoff. If you are looking for a shorter contractual term you will need to refinance the loan

Wiki User

∙ 17y ago

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Q: Is it possible to increase the amortization of an existing mortgage?

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Where is it possible to learn about mortgage amortization?

You are able to learn about mortgage amortization from various resources, ranging from college textbooks to online knowledge bases such as Investopedia or Wikipedia.

Can you port a mortgage to a new property?

Yes, it is possible to port a mortgage to a new property, which means transferring your existing mortgage to a new home. This process allows you to keep the same terms and conditions of your current mortgage on the new property.

Can you consolidate one mortgage into another?

Yes, it is possible to consolidate one mortgage into another through a process called refinancing. This involves paying off the existing mortgage with a new loan that typically has better terms or a lower interest rate.

Can you port a mortgage in the US?

Yes, it is possible to port a mortgage in the US, which means transferring an existing mortgage from one property to another. This process allows the borrower to keep the same interest rate, terms, and balance when moving to a new home.

Can you port a mortgage in the USA?

Yes, it is possible to port a mortgage in the USA, which means transferring an existing mortgage from one property to another. This process allows the borrower to keep the same interest rate, terms, and balance when moving to a new home.

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Related Questions

Where is it possible to learn about mortgage amortization?

You are able to learn about mortgage amortization from various resources, ranging from college textbooks to online knowledge bases such as Investopedia or Wikipedia.

Is it possible to remortgage a home through Advisor Mortgage Group?

Advistor Mortgage Group offers a full range of mortgage services. This includes remortgaging one's existing home, as well as obtaining a first mortgage.

Can you port a mortgage to a new property?

Yes, it is possible to port a mortgage to a new property, which means transferring your existing mortgage to a new home. This process allows you to keep the same terms and conditions of your current mortgage on the new property.

Can you port a mortgage in the US?

Yes, it is possible to port a mortgage in the US, which means transferring an existing mortgage from one property to another. This process allows the borrower to keep the same interest rate, terms, and balance when moving to a new home.

Can you port a mortgage in the USA?

Yes, it is possible to port a mortgage in the USA, which means transferring an existing mortgage from one property to another. This process allows the borrower to keep the same interest rate, terms, and balance when moving to a new home.

Can you consolidate one mortgage into another?

Yes, it is possible to consolidate one mortgage into another through a process called refinancing. This involves paying off the existing mortgage with a new loan that typically has better terms or a lower interest rate.

Can I port my mortgage in the US to a new property?

Yes, it is possible to port your mortgage in the US to a new property through a process called mortgage porting. This allows you to transfer your existing mortgage to a new property, typically with the same terms and conditions. However, not all lenders offer this option, so it's important to check with your lender to see if it is possible in your situation.

Can you transfer your current mortgage to another property?

Yes, it is possible to transfer your current mortgage to another property through a process called mortgage porting. This allows you to move your existing mortgage deal to a new property, but it is subject to approval from your lender and may involve certain conditions and fees.

Can you have 2 cosigners on a mortgage?

Yes, it is possible to have two cosigners on a mortgage. Having multiple cosigners can help strengthen the application and increase the chances of approval, as it shows additional financial support and responsibility.

How does one get a 2nd mortgage loan?

One can acquire a second mortgage from any lender based on the existing equity on the home. Basically, the second mortgage is borrowed on the "paid off" portion of the existing home, which is why it is also referred to as a home equity loan. You should, after having your home appraised, contact multiple lenders to find the best possible deal in terms of both interest and closing costs.

Can you add additional RAM memory to your existing computer?

It is possible to increase the amount of RAM on your computer through an upgrade. These upgrades would be able to increase your RAM by a few Gigabytes.

Is the us bank home mortgage any good?

Us Bank Home mortgage offers options tailored to Home mortgages threw their Making Home Affordable Program. If you qualify and your current mortgage is up to date, you may be eligible to refinance your existing mortgage. There are many options for Home Mortgages that make this bank a possible great choice.

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