Veterans have the benefit of securing 100% financing for a home purchase. They also have the benefit of the streamlined refinance program once they have a VA loan. In order to qualify for a VA IRRRL, you must have timely mortgage payments and have a net tangible benefit for the refinance. Many people believe this means only a better interest rate. Looking for Current … [Read more...] about VA IRRRL Net Tangible Benefit Policy About Interest Rates
You waited long enough – interest rates are right where you want them so you are ready to refinance. Before you jump in head first, you should ask your lender the following important questions. Looking for Current Mortgage Interest Rates? Click Here. What is the APR? Don’t let yourself get so focused on the interest rate that you forget about the APR. The APR is the total … [Read more...] about The Top Questions to Ask Your Lender Before a Refinance
Did you take out a second mortgage out of desperation? Maybe you found yourself in a bind and took the first loan that came your way. Now that you are out of that financial crisis, you wonder what to do with this high-interest rate second mortgage. Get Matched with a Lender, Click Here. The good news is that you aren’t stuck with it. You are going to have to do some … [Read more...] about Getting Rid of a High Interest Rate Second Mortgage
If you want to buy a home that needs some work, you may take out a home renovation loan. These loans help you buy the property, but also give you money to renovate it. They are one of the only ways to purchase a fixer-upper, especially if the home won’t pass an appraisal. Looking for Current Mortgage Interest Rates? Click Here. But will you pay more interest for the home … [Read more...] about Will you Pay More Interest for a Home Renovation Loan?
art Getting approved for a home loan can be exciting, but before you act too fast, you should know how to save money on it. Did you know that closing costs can amount to as much as 5% of your loan amount? That’s some serious money. Let’s say you borrow $300,000, you would pay as much as $15,000 in closing costs, and that’s money you must come up with on your own. Compare … [Read more...] about Simple Tips to Save Money on Your Next Home Loan