How (and Why) to Calculate Your Home Equity
Have you wondered how much financial value is embedded in your home? Calculating your home equity is a simple process in theory. Read More
Conventional Refinance Loans
What is a conventional refinance loan?
Conventional refinance is when you replace your existing home loan with a conventional mortgage. This type of refinance is versatile. You can use it to obtain a lower mortgage rate, get cash-out from your home equity, reduce the length of your loan term, refinance rental properties, or any other purpose. To be eligible, your current loan does not have to be conventional, FHA loans and USDA loans, or any other program can be refinanced with a conventional mortgage. Read More
Conventional Loans
The concept of conventional loans dates back to 1938 during the depths of the Great Depression. That’s when The Federal National Mortgage Corporation, also known as ‘Fannie Mae‘, was founded by the United States Government. Read More
FHA Refinance Costs and Fees
The fees that FHA charges its borrowers are different depending on the type of refinance loan. The fees for FHA streamline loans used to be significantly less expensive than cash-out or rate-term refinances. With recent changes, that is no longer the case and the fees are often comparable. FHA refinance mortgage programs contain two different kinds of mortgage insurance paid on each loan. Read More
FHA Refinance
You already own a home, so you’re probably somewhat familiar with the mortgage process. If you’ve never refinanced through FHA you might think that it’s more complicated because you’re involved with a government agency. Read More
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