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Discussion Starter #1
i am in the process of refinancing my mortgage.
i have some slight flexibility with my bank to set some favorable terms and conditions.
can anyone recommend what features to ask for?
my goal is to pay off the mortgage with as many pre-payments as possible
so far, my list is: good rate (p-0.75), 20% pre-payment every year, no cap on number of pre-payments in a year (subject to the 20% max for a year), HELOC attached to the equity that automatically increases periodically as equity increases, no closing costs (legal fees, appraisals, etc.)
is there anything else I should be asking for?
one catch is that because this is a variable rate mortgage, the compounding is monthly instead of semi-annualy. I wasn't able to negotiiate that policy.

thanks in advance
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