But whats the current payment on a $247k mortgage in this area?

(@NAR_Research).Today’s Interest Rate: 7.14%(☝️ .01% from this time last week, 30-yr mortgage)Mortgage Rate UpdateMortgage rates are negligibly higher this week, up for the last 2 months, 7.14%.

Remember the renters are paying off your Mortgage 

@Mark PayneYou can buy the note but it seems like this transaction was not done properly as it should have had a recorded mortgage to secure the propertyWas there never a recorded mortgage?

The mortgage is in the name of my business partner.

So - my question - my current mortgage holder gave me two options to refi and remove my wife's name from the loan both keep the current 4.x% rate but one can be done within 45 days and the loan starts again at 30 years.The other option, an assumption process, takes 4-6 months, retains the 4.x% rate but keeps the life of the loan at the current 24 months.I'll be rolling a HELOC into the loan.My question is:  the longer term of 30 years will lower the monthly outlay a little bit and speed the process of getting my wife's name off the loan. 

I am a real estate investor as well as an investor focused mortgage agent.

It's not like you have to have a special savings account titled "mortgage purposes reserves" that you can't use for anything else.

Source @Keep Current Matters.Goldman Sachs : Original Forecast 1.9% / Current Forecast 5.0%Mortgage Bankers Association: Original Forecast 1.1% / Current Forecast 4.1%Zillow: Original Forecast .2% / Current Forecast 3.5%Fannie Mae: Original Forecast 2.8% / Current: 3.2%Home Price Expectations Survey: Original Forecast 2.2% / Current: 2.4%National Association of Realtors: Original Forecast .7% / Current: 1.9%

We financed the deal through a traditional mortgage.