Refinance

04 May 2022

Refinancing: Check Your Financials First

Mortgage

Although interest rates continue to rise, they are still low and you have probably heard that refinancing could help you save money on your home loan. Even though you are probably focused on current mortgage interest rates, feverishly comparing them to your own interest rate, you need to check your financials first. What are a few important indicators of your financial health that you need to check before you go through the refinancing process? Check Your Credit Report During the refinancing process, you will essentially replace your current home loan with another one. Therefore, the lender is going to check…

14 Apr 2022

By Tawnya King

Common Fees During Refinancing

Mortgage

As interest rates fluctuate, you might think about refinancing your mortgage. This is the cost of taking out a new home loan to replace the one you currently have. If you get a significantly lower interest rate, you could save tens of thousands of dollars over the life of the mortgage. On the other hand, you need to think about potential expenses you might incur during the refinancing process. Because you are taking out another home loan, you may need to pay closing costs a second time. What are some of the most common expenses you might have to pay?…

13 Apr 2022

By Tawnya King

Taxes And A Cash-Out Refinance: What To Know

Mortgage

If you decide to go through the refinancing process, there are several options available. One of the most popular options is a cash-out refinance. Essentially, you capitalize on the difference between current interest rates and the interest rate on your home loan to keep your payments the same while also drawing equity out of your home in the form of cash. You can use this money to fund your retirement, complete home repairs, or do a renovation project. Even though you can do just about anything you want with this cash, what do you need to know about a cash-out refinance…

07 Apr 2022

By Tawnya King

How To Qualify for Refinancing a House

Mortgage

If you want to save money on your mortgage, now might be a great time to refinance. When you refinance your home loan, you replace the existing mortgage with a different one. You can refinance your home to withdraw cash, shorten the term of the loan, or reduce your interest rate. Not everyone can refinance the house, so take a look at a few key rules you need to follow to qualify for a refinance. Have A Mortgage In Solid Standing First, your mortgage must be in solid standing with your lender. If you are behind on your mortgage payments, the lender might not…

17 Mar 2022

By Tawnya King

How Negative Closing Costs Work

Mortgage

If you want to save money on your home loan, you might be thinking about refinancing your mortgage. You might be able to replace your existing mortgage with a home loan that has a lower interest rate. Even a single point reduction in your interest rates could save you tens of thousands of dollars over the life of your loan. Before you refinance, be sure to ask about closing costs. Because you are replacing your existing home loan with a new one, you may incur some closing expenses. On the other hand, you could also have negative closing costs. In…

15 Mar 2022

By Tawnya King

What Are The Top Signs You Need To Refinance?

Mortgage

You might have heard that more people are refinancing these days. During the refinancing process, you essentially take your current home loan and replace it with a different one. You can reduce your mortgage payments, shorten the life of your loan, or withdraw cash you can use for other purposes. What are a few of the signs that indicate you should consider refinancing? You Can Secure A Lower Interest Rate If you think you can secure a lower interest rate on your mortgage, it might be time to refinance. There are a number of reasons why you might be able to…

25 Feb 2022

By Tawnya King

How Can You Secure A Better Interest Rate When Refinancing Your Home Loan?

Mortgage

If you want to save money on your home loan, you may want to consider refinancing. During the refinancing process, you will replace your existing home loan with a new one; however, you want to secure the lowest interest rate possible. How can you get a better rate on your mortgage during the refinancing process? Consider Refinancing Your Home Loan To A Shorter Term If you can create less risk for the lender, you can get a lower interest rate. One of the ways to do so is to refinance your home loan to a shorter term. If the average…