With a custom mortgage, borrowers who refinance can pay off their mortgage under the terms equals to their original mortgage while reducing the total interests paid.
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Rockville, MD (PRWEB) July 26, 2011
WEI Mortgage Corporation (WEI) is pleased to announce the creation of custom term mortgages that are tailored for each borrower’s unique needs. This is an unique option for qualified borrowers that have already paid a significant number of years on their existing mortgage and allows the borrowers to refinance into a lower interest rate without unnecessarily adding additional term.
For example, if a borrower has a 30 year fixed mortgage and has paid it for 8 years, WEI is able to help the borrower take advantage of the current low interest rate environment and refinance the remaining 22 years into a custom 22 year term mortgage. This custom option positions the borrower to pay off the new mortgage in the same time frame as the original mortgage.
“This option is particularly useful for borrowers that do not wish to extend beyond the original time frame of their mortgage. With a custom mortgage, borrowers who refinance can pay off their mortgage under the terms equals to their original mortgage while reducing the total interests paid,” says Wesley Yuan, president of WEI. “There is no one solution that fits all needs. We are glad to create a custom option for each borrower as unique as their financial situations may be.”
About WEI Mortgage Corporation
WEI Mortgage Corporation (WEI), a fully delegated direct lender incorporated in Maryland in 2002, originates top quality conventional and government residential loans in 36 States and the District of Columbia. Guided by an innovative business plan, WEI conducts business with the utmost integrity, accuracy, and efficiency. As a member of Better Business Bureau (BBB), WEI has an outstanding record with the Bureau and has been recently recognized as a model company in the lending industry of Maryland in 2007. WEI Mortgage is also a member of Mortgage Bankers Association (MBA) and an established lending institution approved by the U.S. Department of Housing & Urban Development (HUD). For more information, visit http://www.weicorp.com.
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