Do No-Closing Cost Refinance Loans Really Exist?

Closing Costs

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

Cash-Out Refinance Loan

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

Home Equity Loans

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

FHA Streamline Refinance: Fast track to lower payments

FHA Streamline Refinance

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

As seen in:
CBS Moneywatch CBS News Yahoo News US News AP
Secure EHL