Refinance

Everything you’ve ever wanted to know about refinancing a mortgage.

New Fannie/Freddie Refinance Option Drops Adverse Market Fee, Offers $500 Appraisal Credit

New Fannie/Freddie Refinance Option Drops Adverse Market Fee, Offers $500 Appraisal Credit
April 28, 2021 No Comments »

In an effort to undo some of the damage the Federal Housing Finance Agency (FHFA) basically caused itself, it’s throwing a bone to so-called low-income families to save on their mortgage. It all spurs from the adverse market fee the ... Read More »

10 Reasons Why You Can’t Refinance Your Mortgage

10 Reasons Why You Can’t Refinance Your Mortgage
March 29, 2021 1 Comment »

With mortgage rates so low, just about everyone and their mother has at least inquired about refinancing their mortgage lately, whether it’s to obtain a lower interest rate and/or tap into their newfound equity. There are actually many reasons to ... Read More »

Why You May Want to Switch Mortgage Companies

Why You May Want to Switch Mortgage Companies
March 11, 2021 No Comments »

Loyalty? Not in the mortgage business. That is, if you actually want to save money on your home loan. A few years back, an HSBC survey revealed that 52% of U.S. homeowners “switched providers” (sorry, they’re British) when obtaining subsequent ... Read More »

Locking vs. Floating Your Mortgage Rate

Locking vs. Floating Your Mortgage Rate
March 10, 2021 No Comments »

To mortgage folk across the country, it’s an age-old question: “Lock or float?” It’s a question loan officers and mortgage brokers get asked on a daily basis, often over and over again by panicked borrowers and first-time home buyers. And ... Read More »

18 Reasons to Refinance Your Mortgage

18 Reasons to Refinance Your Mortgage
March 3, 2021 No Comments »

There are many reasons to refinance your mortgage, some obvious and some a bit more obscure and/or different. I figured I’d compile a list of the many reasons I can think of to refinance. Some of the situations are complete ... Read More »

Why Do Mortgage Companies Want You to Refinance So Badly?

Why Do Mortgage Companies Want You to Refinance So Badly?
February 18, 2021 1 Comment »

If you already have a mortgage, there’s a good chance you receive junk mail on a regular basis urging you to refinance. You may receive solicitations from both your current bank/loan servicer and from a competing lender or mortgage broker ... Read More »

The Top 15 Refinance Questions Answered

The Top 15 Refinance Questions Answered
January 27, 2021 No Comments »

With mortgage rates at or near all-time record lows, you’ve likely pondered a refinance if you’re an existing homeowner. But you probably have a lot of questions too, especially if it’s your first time refinancing a home loan. Let’s clear ... Read More »

Does a Refinance Require an Appraisal?

Does a Refinance Require an Appraisal?
January 21, 2021 No Comments »

Mortgage Q&A: “Does a refinance require an appraisal?” A reader recently asked if they needed an appraisal to refinance their existing mortgage, knowing they can often add weeks to the loan process. As with anything in the mortgage realm, the ... Read More »

Don’t Freak Out About the Recent Mortgage Rate ‘Spike’

Don’t Freak Out About the Recent Mortgage Rate ‘Spike’
January 15, 2021 No Comments »

Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Mac’s weekly survey. Freddie Mac Chief Economist ... Read More »

What Is a Streamline Refinance?

What Is a Streamline Refinance?
January 13, 2021 No Comments »

Mortgage Q&A: “What is a streamline refinance?” While qualifying for a mortgage refinance is generally a lot harder than it has been in the past (now that lenders actually care how your home loan performs), there are less cumbersome options ... Read More »