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
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 have an FHA loan and are in need of money, you may be eligible for an FHA cash out refinance. This loan enables you to take cash out of the equity of your home. This means that you will have a mortgage with a higher loan-to-value ratio and higher payment, but you will have more cash in your hand to do with as you see fit. Many people tap into their equity in order to … [Read more...] about How to Obtain an FHA Cash Out Refinance