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
You needed ‘good’ credit when you applied for your mortgage to buy your house, now you want to tap into its equity. Do you still need good credit?Looking for Current Mortgage Interest Rates? Click Here.The answer is ‘yes.’ Lenders want a ‘good’ credit score in order to ensure that you’ll make your payments on time. Taking cash out of the equity in your home means that … [Read more...] about Can You Get a Cash-Out Refinance With Bad Credit?
If you took a subprime mortgage because you had a low credit score, high debt ratio, or some other reason that kept you from getting a mortgage, you may wonder if you can get out of it at some point. The truth is that if you work hard, you probably can get out of a subprime loan. You aren’t stuck with it forever, as they don’t have prepayment penalties in most cases.Looking … [Read more...] about Is it Time to Refinance Your Subprime Mortgage?
You decided you want to refinance. It’s time to lower your payment or tap into your home’s equity. You’ve prepared yourself financially and are ready to take the jump. Your current lender seems to have a great program for you. Before you jump in headfirst, you may want to consider the top reasons not to use your current lender though.Compare Offers from Several Mortgage … [Read more...] about The Top Reasons Not to Use Your Current Lender to Refinance
If you’ve paid a significant amount of your loan’s balance down, you may have some decent home equity. Even if you’ve only paid on your loan for a little while, but your home appreciated, you may have more equity than you thought. Should you use the equity? If so, what’s the best use for it?Compare Offers from Several Mortgage Lenders.Keep reading to find out the top … [Read more...] about The Top 5 Ways to Use Home Equity