What Is a Conditional Loan Approval?
When you apply for a home loan, an underwriter will review your file in order to make a lending decision. They can approve your loan,… Read More »What Is a Conditional Loan Approval?
Refinance
Everything you’ve ever wanted to know about refinancing a mortgage, which is essentially replacing your dusty old home loan with a brand new shiny one.
There are many reasons to refinance a mortgage, but it usually boils down to wanting a lower interest rate or the desire to tap home equity.
Those who simply want a lower rate (or a different loan program) go with a rate and term refinance.
And those who want to tap equity go with a cash out refinance, which can also result in a lower mortgage rate if the timing is right!
There is also the streamline refinance, which makes it easier to refinance your home loan thanks to fewer paperwork requirements, even if your property value has declined.
I’ve also written a thorough article on the the mortgage refinance process, step-by-step, which is a must-read as well.
Check out those in-depth articles or browse the latest refinance-related posts below to learn more about the process!
How Does Mortgage Refinancing Work?
Trade In Your Old Home Loan for a New One Fundamental mortgage Q&A: “How does mortgage refinancing work?” When you refinance a mortgage, you trade… Read More »How Does Mortgage Refinancing Work?
Why Are Refinance Rates Higher? It All Has to Do With Risk
Mortgage Q&A: “Why are refinance rates higher?” If you’ve been comparing mortgage rates lately in an effort to save some money on your home loan,… Read More »Why Are Refinance Rates Higher? It All Has to Do With Risk
The Refinance Rule of Thumb: Only Refinance Your Mortgage If…
How Much Lower Should Mortgage Rates Be to Refinance? Unfortunately there is no one-size-fits-all answer to this question Because no two loan scenarios (or homeowners)… Read More »The Refinance Rule of Thumb: Only Refinance Your Mortgage If…
Cash Out vs. HELOC vs. Home Equity Loan: Which Is the Best Option Right Now and Why?
It’s time for another mortgage match-up: “Cash out vs. HELOC vs. home equity loan.” Yes, this is a three-way battle, unlike the typical two-way duels… Read More »Cash Out vs. HELOC vs. Home Equity Loan: Which Is the Best Option Right Now and Why?
18 Important Mortgage Refinance Questions Answered
With mortgage rates no longer at or near record lows, the refinance question has become a lot more complex. It used to be a no-brainer… Read More »18 Important Mortgage Refinance Questions Answered
10 Big Mortgage Myths Proved Wrong, Once and For All
These days, the world is full of misinformation. You can thank the Internet for that, which has led to an explosion in content, both good… Read More »10 Big Mortgage Myths Proved Wrong, Once and For All
2024 Mortgage and Real Estate Predictions: Lower Rates and Falling Home Prices?
Well, another year is nearly in the books, which means it’s time to look ahead to what the next 365 days have in store. While… Read More »2024 Mortgage and Real Estate Predictions: Lower Rates and Falling Home Prices?
It’s Easier to Save More Money When Refinancing a High-Rate Mortgage
Over the past year and change, mortgage refinance applications have fallen off a cliff. We had some of the biggest refi years in 2020 and… Read More »It’s Easier to Save More Money When Refinancing a High-Rate Mortgage
Buy Now, Refinance for Free Deals Aren’t All They’re Cracked Up to Be
Lately, some mortgage lenders have pitched “buy now, refinance for free” offers to get more home buyers to take the plunge. The thinking is mortgage… Read More »Buy Now, Refinance for Free Deals Aren’t All They’re Cracked Up to Be