How does our 10 & Done loan compare?
POSTED IN ARTICLES ON THURSDAY, OCTOBER 6, 2016
How does our 10-year fixed loan compare to your mortgage?
What would you do if you could pay off your mortgage early? Whether you want to travel the world, spend more on friends or family, or put a little extra in your savings, Veridian can help you achieve financial success.
When you refinance your mortgage with our 10 & Done home equity loan, there's less paperwork than a typical mortgage and your closing costs can be as low as $200⫧. Even better: You get a great rate that is locked in for the life of the loan that could save you tons on interest.
For example, let's say you took out a 30-year mortgage somewhere else for $200,000 at a rate of 5.00% APR⫧. After making on-time payments for 14 years, you still owe about $142,000. When you find out that Veridian has better rates, you use our mortgage calculator to discover your potential savings:
|Current Mortgage||10 & Done loan|
|Remaining term||16 years||10 years|
That's more than half the remaining interest on your mortgage back in your pocket to spend on whatever you like. Your home would also be paid off six years faster, as long as you can afford the higher monthly payment.
Refinance your mortgage to save money, pay off your home faster and achieve financial freedom sooner. Schedule an appointment to discuss your options or begin an application today.
⫧APR = Annual Percentage Rate. Includes Loyalty Discount of 0.25% APR when enrolled in direct deposit of net income and automatic loan payments using your Veridian account. Borrowers will lose Loyalty Discount if they fail to meet qualifications during loan term. For a $25,000 10 & Done Loan amortized for 120 months at 4.09% APR, the monthly payment will be $254, not including taxes or insurance. Loan must be in first lien position. Any advertised closing costs assume title guaranty and appraisal are not required. Additional costs may apply. Rates, terms and conditions subject to change and may vary based on qualifications including creditworthiness, loan-to-value ratio and collateral conditions. All loans subject to approval. See Veridian for details.