refinance: How to Qualify for a Refinance
- 04/01/15 12:44 AM
You may think it's your last chance to refinance your mortgage before interest rates go through the roof. Or, you feel your home's value has risen enough that you can get a better deal on your mortgage debt. So how do you determine whether or not you qualify to refinance? First, establish how much equity you have. To refinance without paying private mortgage insurance, your LTV has to be 78 percent or less.
According to Zillow, you should find out how much your home is worth and how much you still owe on your current mortgage. Then … (0 comments)
refinance: You have one more shot at getting a REFINANCE
- 12/17/14 08:58 PM
Stop me if you've heard this before. Is it time to refinance your mortgage? Okay, just kidding. Don't stop me. Keep reading. Mortgage rates have been so low for so long that borrowers who could have refinanced likely already have. Still others couldn't refinance because there wasn't enough equity in their homes. Or, some were just waiting for rates to move down just a little. bit. more.
For those perennial procrastinators, it just might be that time.
According to Freddie Mac's weekly mortgage survey, the 30 year fixed rate dipped below 4.00% for the first time since the … (0 comments)
Mortgage rates today have reached 14-month lows, it's definitely a good time to refinance your home! Yet few homeowners are taking this advantage... There are about $800 billion in U.S. mortgages with rates of five percent or more. If your mortgage is one of them, you must compare current mortgage rates today. The monthly savings are topping 30% on average.
MEDIAN AGE OF REFINANCED LOAN RISES TO 7.3 YEARS Freddie Mac stated that U.S. homeowners are holding home loans longer. During the second quarter of 2014, the median age of a refinanced loan was … (1 comments)
refinance: Refinancing Your Mortgage
- 07/01/14 03:15 AM
Although low mortgage rates is music to our ears, is it really enough for you to refinance? Here are some questions you can ask yourself to guide you in making the right decisions on refinancing. How low do mortgage rates need to be? Don't just compare between mortgage rates. See the savings between your current monthly payment and the projected refinance mortgage payment. Compare only the principle and interest payments on a loan amount that includes the closing costs, but don't include taxes, insurance, or cash out. There decide if the monthly savings makes it worthwhile. Do need cash … (0 comments)
refinance: HARP Update to lead more U.S. Homeowners HARP-Eligible
- 10/24/13 07:18 PM
The FHFA a.k.a. the Federal Home Financing Agency has announced a new HARP Update to lead more U.S. Homeowners HARP-Eligible. To take effect as soon as possible, the start date of HARP-eligible loans must be on or before the 31st of May 2009. "Start date" may refer to the note date or the date on the mortgage. Before, HARP was only available to those who have mortgages that were sold or securitized on that date. It's a pretty small change but this brings us one step closer to HARP 3. Updated Eligibility Requirements … (2 comments)
You may think it's your last chance to refinance your mortgage before interest rates go through the roof. Or, you feel your home's value has risen enough that you can get a better deal on your mortgage debt.
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