If you are a veteran with a VA home loan, you have the benefit of refinancing with the IRRRL program. The Interest Rate Reduction Refinance Program has one objective - to help make your payment more affordable. The VA doesn’t require lenders to verify any qualifying factors for your loan with the exception of your mortgage payment history. In exchange for this leniency, you … [Read more...] about Cash-Out Refinancing: Is it Possbile with an IRRRL?
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
You hear interest rates dropped so you immediately assume that you should refinance. What if it doesn’t make sense, though? It takes more than a lower interest rate for refinancing to make sense. Since getting a new mortgage costs money, you need to make sure it makes financial sense to refinance. Get Matched with a Lender, Click Here. Keep reading to learn how to tell if … [Read more...] about Will Refinancing Save you Money?
The HECM loan is a Reverse Mortgage. Older homeowners take out these loans to use their home equity while they are still alive. Like a traditional mortgage, you can refinance an HECM, but the process is a little different. Looking for Current Mortgage Interest Rates? Click Here. Reasons to Refinance an HECM You may wonder why a homeowner would want to refinance an HECM. … [Read more...] about Understanding the HECM to HECM Refinance
Mortgage refinancing costs as much as 3% - 5% of the loan amount. Suddenly that lower mortgage payment doesn’t seem so enticing, does it? If the closing costs eat away at your savings, it may not make sense to go through with the refinance. Compare Offers from Several Mortgage Lenders. Fortunately, there are ways to lower your mortgage refinance fees. Follow the simple … [Read more...] about Tips to Lower Your Mortgage Refinance Fees