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?
Fixing up your home or a home you want to buy can be expensive. What happens if you don’t have the cash lying around to do it? Are you stuck with a home equity loan or expensive personal loan? Fortunately, Fannie Mae, the guarantor of conventional loans, offers a rehab loan. The Fannie Mae HomeStyle loan helps you purchase or refinance a home while getting funds to make the … [Read more...] about What is the Fannie Mae HomeStyle Loan?
The Tax Cut and Jobs Act changed the way taxpayers take deductions. What used to be a common deduction became obsolete. Many of these changes had to do with the mortgage industry. Suddenly it wasn’t a given that you could deduct your mortgage interest. So where does that leave home improvement loans? Are you able to deduct their interest on your taxes? Get Matched with a … [Read more...] about Can you Deduct Home Improvement Loans on Your Taxes?
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
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?