You can set a fixed conventional mortgage with instantaneous measurement of 30?

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I applied for 30 years. Refinancing Approx. fxd FASTRACK ready answers. Do you really have a fixed rate loan is 30 years?

3 Comments
  1. Reply
    Casey C
    January 29, 2011 at 1:56 pm

    Who did you apply with? Not sure what a fastrack is but the best way to tell is to request a Good faith estimate or Truth in lending statement. A lock-in agreement will also tell you.

  2. Reply
    michiganted
    January 29, 2011 at 2:48 pm

    Yes it’s really a 30 year fixed loan that is eligible for sale to either Fannie Mae or Freddie Mac. FastTrack is just the brand name that your lender uses for either an “Accept Plus” (Freddie) or “Rapid” (Fannie) loan process. Some places call them “Fast and Easy” some call them “FastTrack” and others call them something else. It generally means that the credit profile is so favorable that the review process is limited.

    The “FastTrack” part has nothing to do with the fact that it is a 30 year fixed conforming loans.

  3. Reply
    Yanswersmonitorsarenazis
    January 29, 2011 at 3:11 pm

    Yep. Fast track just sounds like you skip the step of verifying your income and assets, if your credit and loan to value meet the proper thresholds.

    Have you asked if you could get a better rate by documenting your income?

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