RATO: Rate and Term Option (RaTO)

Dated: July 5 2021

Views: 179

What is Rato mortgage program?
The new program is aimed at lower-income homeowners who have not taken advantage of low interest rates to refinance their mortgage. Lenders will be required to lower the borrower's monthly payment by at least $50 and reduce the interest rate by a half percentage point.

https://www.cnbc.com/2021/04/29/2-million-homeowners-may-be-eligible-for-new-mortgage-refi-program.html

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