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
Should You Use a Home Equity Loan for Your Child’s College Education?
College tuition and related expenses are rising. Costs for in-state students at reasonably priced public schools may exceed $20,000 per year. Even if you are a diligent saver, you may not have enough money to pay this bill for your children. Read More
Why You Should Consider Refinancing Before it’s Too Late
For three years I dithered about refinancing my mortgage. I meant to check into and get around to it, but it never quite happened. One day, when I logged onto a free consumer credit site, a popup suggested that I talk to someone about refinancing my loan. On a whim, I checked “yes” in the box, and soon I received a follow up about refinancing. Read More
9 Things to Do Before You Refinance
Refinancing your mortgage could save you hundreds of dollars each month in housing expenses. Plus a better mortgage deal could mean paying thousands less in interest over the life of your loan. Read More
5 Fitting Uses For A Home Equity Loan or HELOC
At some point in your financial life, you may want to leverage your home equity to improve your financial position. You might get a home equity loan, which gives you a specific amount of cash; or sign up for a home equity line of credit (HELOC), which provides ready access to cash as needed. Read More
Do No-Closing Cost Refinance Loans Really Exist?
Refinance loans with “no closing costs” may sound like a really great deal at first. I mean, who wouldn’t want a deal with no costs? The truth is, when it comes to refinancing your mortgage, the ‘no closing cost’ deal may become far less appealing when you learn how those fees are replaced with a higher mortgage rate and payment. Read More
Cash-Out Refinance: Convert Home Equity Into Cash
If you need cash for a good reason and have built up equity in your home, you might consider tapping into that treasure chest of savings that’s hiding under the roof over your head. Cash-out refinancing can allow you to take out a new mortgage for more than your present mortgage balance, pay off your existing mortgage and obtain cash for the difference. Read More
Home Equity Loans: Tapping your home’s value
If you would like to get a fixed amount of cash for some of the equity in your house, a home equity loan is an option worth considering. A home equity loan, sometimes known as a second mortgage, is a loan you take in addition your original mortgage that provides cash for some of the equity you have built up. Home equity loans are usually issued for a fixed amount for a fixed term at a fixed interest rate. Read More
HARP Loan Program: Refinance help for underwater homes
If you are underwater on your home (owe more than it’s worth) yet have stayed current on your mortgage payments, HARP is here to help you. HARP stands for the Home Affordable Refinance Program and is designed for you to refinance and obtain more affordable payments and interest rates than you have on your original mortgage. Read More
FHA Streamline Refinance: Fast track to lower payments
If you want to reduce the payment on your current FHA mortgage, even if your home is now worth less than you owe on it, the FHA Streamline Refinance could be just right for you. Remarkably, the FHA Streamline Refinance program requires no credit check, no employment or income verification and in most cases no appraisal of the property. Read More
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