If you currently have mortgage insurance and would like to refinance with the HARP program make sure you contact a lender that is able to handle this request. Some potential HARP applicants have been running into roadblocks because they have been told that they cannot refinance with the HARP program if they are currently paying mortgage insurance. This isn’t true. As long as you meet the basic HARP eligibility requirements you can refinance with the HARP program if you have mortgage insurance.
How do I refinance … (0 comments)
pennsylvania refinance: How Do Deferred Student Loans Affect Your Mortgage Application?
- 11/11/11 06:05 AM
Student loans have been in the news quite a bit recently. As tuition costs rise, college graduates face larger student loan balances than ever before. As a result, student loans often make up a sizable chunk of a college graduate's total debt picture as they enter the workforce and begin to look for housing. Mortgage lenders calculate a Debt to Income (DTI) ratio on every new mortgage application. Here we will look at how the status of student loan payments can affect this DTI on a mortgage application. First and foremost, because the payments of student loans are reported to the credit … (4 comments)
pennsylvania refinance: The Holiday Season is a good time to Refinance
- 12/02/10 02:30 AM
The holidays brings a lot of extra activitiesinto our lives and make the days seem even busier than usual. You may think there is no time to even consider refinancing during this busy time but the few minutes that you take to do this may just be worth it. Here's why.... 1) Rates are still very low. The opportunity to take advantage of a lower payment or shorter term enables customers to realize a potential savings of hundreds monthly and thousands over the life of a mortgage. 2) Refinances typically allow you to "skip a month" before the first payment is due. This happens … (0 comments)
pennsylvania refinance: Pay Off That Home Faster With A 15 Year Fixed Mortgage
- 11/30/10 09:15 AM
The main benefit that is often touted during a refinance boom is that those who qualify can often lower their mortgage payment by several hundred dollars per month. The new payments advertised with these lower monthly payments are typically for 30 year mortgages. No doubt, there are substantial savings to be had with these lower payments, resulting in greater cash flow and more monthly money in the customer's pocket. This pure payment reduction does however come with a price. By going with a new 30 year fixed mortgage, the customer is hitting the reset button on their repayment schedule and adding several years … (0 comments)
pennsylvania refinance: Pennsylvania Refinance
- 11/23/10 08:22 AM
Today's historically low interest rates should be investigated by every homeowner with a mortgage balance. Feel free to call me to crunch the numbers and see if you can benefit from a reduction in payment, a reduction in term or both! We never know where rates will be in the future. In the 15 years I have been in this business, this is the lowest they have been by far. Many of my previous 30 year fixed customers have been able to secure new 15 year fixed rates in the 3s without raising their payment. This has enabled them to … (0 comments)
pennsylvania refinance: Pennsylvania Refinance
- 10/16/10 12:16 AM
Today's historically low interest rates should be investigated by every homeowner with a mortgage balance. Feel free to call me to crunch the numbers and see if you can benefit from a reduction in payment, a reduction in term or both! We never know where rates will be in the future. In the 15 years I have been in this business, this is the lowest they have been by far. Many of my previous 30 year fixed customers have been able to secure new 15 year fixed rates in the 3s without raising their payment. This has enabled them to get … (0 comments)
pennsylvania refinance: 15 year mortgages work harder for YOU
- 10/04/10 11:33 PM
The main benefit that is often touted during a refinance boom is that those who qualify can often lower their mortgage payment by several hundred dollars per month. The new payments advertised with these lower monthly payments are typically for 30 year mortgages. No doubt, there are substantial savings to be had with these lower payments, resulting in greater cash flow and more monthly money in the customer's pocket. This pure payment reduction does however come with a price. By going with a new 30 year fixed mortgage, the customer is hitting the reset button on their repayment schedule and adding several years … (5 comments)
pennsylvania refinance: Pittsburgh Refinance
- 09/20/10 08:57 AM
Today's historically low interest rates should be investigated by every homeowner with a mortgage balance. Feel free to call me to crunch the numbers and see if you can benefit from a reduction in payment, a reduction in term or both! We never know where rates will be in the future. In the 15 years I have been in this business, this is the lowest they have been by far. Many of my previous 30 year fixed customers have been able to secure new 15 year fixed rates in the 3s with out raising their payment. This has enabled them to … (0 comments)
pennsylvania refinance: Achieving the Dream of a Free and Clear Home
- 09/10/10 07:37 AM
The main benefit that is often touted during a refinance boom is that those who qualify can often lower their mortgage payment by several hundred dollars per month. The new payments advertised with these lower monthly payments are typically for 30 year mortgages. No doubt, there are substantial savings to be had with these lower payments, resulting in greater cash flow and more monthly money in the customer's pocket. This pure payment reduction does however come with a price. By going with a new 30 year fixed mortgage, the customer is hitting the reset button on their repayment schedule and adding several years … (1 comments)
pennsylvania refinance: FHA changes will affect many who have 2nd Mortgages
- 09/07/10 03:36 AM
HUD has announced some changes that will affect many homeowners who have current 2nd mortgages. Previously FHA loans allowed for unlimited Combined Loan-to-Value (CLTV). This allowed homeowners to refinance their first mortgage and resubordinate their current second mortgage, as long as their first mortgage was at 97.75% Loan to Value (LTV) or below. Now FHA loans will require that the CLTV also be at or below 97.75%. Example : You owe 100K on your first mortgage and 25K on your second mortgage. The house appraises at 120K. Under the previous rules, you would refinance the first and subordinate the current second. Under the … (3 comments)
pennsylvania refinance: Pennsylvania Refinance
- 09/04/10 05:21 AM
Today's historically low interest rates should be investigated by every homeowner with a mortgage balance. Feel free to call me to crunch the numbers and see if you can benefit from a reduction in payment, a reduction in term or both! We never know where rates will be in the future. In the 15 years I have been in this business, this is the lowest they have been by far. Many of my previous 30 year fixed customers have been able to secure new 15 year fixed rates in the 3s with out raising their payment. This has enabled them to … (0 comments)
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