When homeowners look to reduce their monthly mortgage payment or plan to pay off a mortgage early, many turn to refinancing. While refinancing a mortgage does allow homeowners to take advantage of lower interest rates, not all borrowers are able to qualify for a mortgage refinance loan. If this is the case, a lesser-known option …
Jumbo mortgages are a great solution when you are purchasing a high-value home where the necessary financing exceeds the loan limits of conforming mortgages. In contrast to conforming mortgages that are often purchased by government agencies like Freddie Mac and Fannie Mae, jumbo loans are typically maintained directly by the lender and create a greater …
Homeowners looking to change their mortgage terms or reduce their interest rates often turn to home refinance loans. Unfortunately, many homeowners find that their homes have dropped in value or live in an area where home values are stagnant. This often means that the homeowner has lost value in their home, and they do not …
If you are looking to change your mortgage terms or lower your interest rate, you may consider a home refinance loan. This is a wonderful option for many. However, what if you live in an area where the property values have dropped? A traditional refinance loan requires a minimum of the existing home equity, and …
Do you owe more to your house than it’s worth? Having negative equity in your home can be disheartening. After all, you have worked so hard to have a place of your own, and then you feel like your payments aren’t even going anywhere. Oftentimes, people end up in these situations due to high-interest rates …
Looking to refinance for a lower interest rate on your mortgage? Here’s what you need to know. When should you refinance? There are several potential benefits to refinancing your home. But one of the best reasons to refinance is getting a lower interest rate. As interest rates fall, you may want to refinance your …
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A lot of people struggle with getting their debt under control. It can be all too easy to rack up credit card debt before learning the best strategies for spending and saving your hard earned money. But even after you learn about these best practices, you may still be stuck with a mountain of debt …
Significant life changes that affect income can happen, and when they do, homeowners are hit hard. In addition to a slew of living expenses that must be paid — groceries, water, keeping the lights on, etc. — there is a big expense that is sometimes hard to maintain when a financial difficulty happens. A home …
There are several potential benefits to a home refinance. But all too often, a homeowner makes these common mistakes when refinancing their home. Read up on these mistakes now so you know what to avoid in the future. 1. Harming your credit score As you prepare to refinance, you’ll want to get your finances …
Top 6 Common Mistakes to Avoid When Refinancing Your Home Read More »
There are many potential benefits to refinancing your home. However, it’s a good idea to prepare yourself for this process, so you can have the best experience possible. 1. Know your why Understand your end goal for why you want to refinance. Are you looking to lower your interest rate, reduce your mortgage payments, …
You may be unsure of what it means to build equity in your home. For a better understanding of what home equity is and how to use it to your advantage, check out the article below! What is home equity? Home equity is the difference between what you owe on your mortgage and …
In the housing industry, there’s always a lot of talk about changing interest rates. But if you focus too much on the rates, you might miss out on the long-term value of homeownership. Rates change, housing prices go through highs and lows, and the markets will fluctuate. But the value of homeownership is more consistent. …
You may be wondering what it means to refinance, the benefits of refinancing, and what different refinancing options are out there. Check out this quick article to learn more! Refinancing: Introduction Refinancing your home mortgage means converting your current home loan into a new one. There are several reasons why someone may choose …
Do you have an expensive home repair or remodel to complete? Or maybe it’s time to send one of the kids off to college. Whatever the reason for needing an influx of money, a home equity loan may be a good option for you to consider. Key Takeaways Understand what a home equity loan is …
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