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 Loans – Conventional Conforming Loan Programs
The term ‘conventional loan’ is defined as any mortgage that isn’t guaranteed or insured by a government agency. As a result, conventional loans have long been considered the ‘garden variety’ of mortgage programs. Conventional loans can be either “conforming” or “non-conforming”. Conforming loans are conventional programs that meet or ‘conform’ to guidelines set forth by the Federal Housing Finance Agency (FHFA), as well as the funding criteria for either Fannie Mae and Freddie Mac.
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 Options | 2020
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
FHA Cash-Out Refinance
Gain financial freedom: FHA Cash-Out Refinance
With interest rates at current lows, now’s the perfect time to wipe away your high interest debt for a clean start or pay for other expenses such as medical debt, home improvement, student loans or any other major expenses that you need paid. Examples of high interest debt that can be paid: Read More
USDA Refinance Program
The USDA Refinance Pilot Program was originally introduced in 2012 to give rural home owners a chance to take advantage of record low interest rates. This pilot program was a success, therefore the program has permanently matured into the USDA Streamline Refinance. Read More
Pros and Cons of a Cash-Out Refinance
If you have a house, chances are that you’ve been told it’s your most valuable asset. And it’s true that your home can have a lot of value. Read More
What is an FHA Short Refinance?
The FHA Short Refinance was devised as a mortgage lifeline to over half a million borrowers left underwater by the 2008 housing crisis. Read More
HAMP Loan Modification Program Extended
Created in 2009 to help out struggling homeowners, HAMP (Home Affordable Modification Program) has helped about 1.4 million homeowners modify their mortgages to avoid foreclosure. Read More
Explaining the Rate and Term Refinance
Right now is a great time to discuss the rate and term refinance because today’s historically low interest rates make this an option that homeowners shoudn’t overlook. Read More
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