Now they have a lot of equity in their home and they paid the loan as indicated, but would like to get a lower interest rate of five percent.

The best thing to do is discuss this with your lender and your accountant and listen to what they have to say.
They take a 15 year mortgage and end up paying about the same monthly payment.
Louie Latour has twenty years of experience in the mortgage industry as a mortgage broker. He is the owner advising mortgage refinancing a mortgage help site devoted to saving homeowners money with a free guide.

variable or fixed rate mortgage mortgage rate ticker refinance loans with no closing costs

For a free six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below.

How to get a 80/20 MortgageA good location aboard bargain hunting for a / 80 20 mortgage is a mortgage broker.