Is a 2.25% 30-Year Fixed Mortgage Rate in the Cards?
One of the problems with refinancing a home loan right now is that mortgage rates keep falling. As such, you might find the need to… Read More »Is a 2.25% 30-Year Fixed Mortgage Rate in the Cards?
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!
Despite COVID-19, You Can Still Get a Jumbo Home Loan
While lots of lenders have recently cut back on offerings that aren’t backed explicitly by the government, some are rolling out new loan programs to… Read More »Despite COVID-19, You Can Still Get a Jumbo Home Loan
There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance
We’ve finally got some clarity regarding what happens after mortgage forbearance in terms of obtaining a subsequent home loan. The Federal Housing Finance Agency (FHFA),… Read More »There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance
Will Forbearance Prevent You from Getting a Mortgage in the Future?
Since the CARES Act rolled out in early April, more than four million Americans have reportedly put their mortgage payments on hold for up to… Read More »Will Forbearance Prevent You from Getting a Mortgage in the Future?
NewDay USA Mortgage Review: A Mortgage Company Designed for Veterans
Today we’ll review NewDay USA, a mortgage lender that is geared specifically toward veterans and active duty military. Like other mortgage companies, they offer both… Read More »NewDay USA Mortgage Review: A Mortgage Company Designed for Veterans
Fannie Mae and Freddie Mac Agree to Buy Mortgages in Forbearance
While the CARES Act has allowed millions of homeowners nationwide to put their mortgage payments on hold, doing so has left lots of questions for… Read More »Fannie Mae and Freddie Mac Agree to Buy Mortgages in Forbearance
Could a Cash Out Refinance Be a Better Solution Than Mortgage Forbearance?
The current solution for those struggling to make mortgage payments due to COVID-19 is mortgage forbearance. It allows homeowners to “pause” mortgage payments for anywhere… Read More »Could a Cash Out Refinance Be a Better Solution Than Mortgage Forbearance?
Quicken Loans Just Had Its Biggest Month in History
The nation’s top retail mortgage lender just knocked it out of the park, despite the ongoing coronavirus pandemic. Quicken Loans CEO Jay Farner was on… Read More »Quicken Loans Just Had Its Biggest Month in History
Chase Now Requires a 700 FICO and 20% Down to Get a New Mortgage
Following in the footsteps of many other mortgage lenders of late, JP Morgan Chase has upped its minimum requirements to get a home loan. Once… Read More »Chase Now Requires a 700 FICO and 20% Down to Get a New Mortgage
Wells Fargo Will Only Give You a Jumbo Loan If You Have $250k in Their Bank
In yet another sign that the mortgage market is completely volatile and far from liquid, top mortgage lender Wells Fargo has severely tightened its jumbo… Read More »Wells Fargo Will Only Give You a Jumbo Loan If You Have $250k in Their Bank