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If you just bought your home, you may wonder ‘how soon after purchasing can I refinance my home?’ It’s a common question and it’s not as crazy as it sounds. In many cases, you can refinance right away, and it may even make sense to do so! Can you Refinance Right Away? The short answer…
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If you are being affected by the amount of debt you have or need a little more money, it can become challenging to come up with other ways to make extra income. However, don’t go out and get a second job right away or start one of the many gig economy jobs such as home…
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A cash-out refinance represents a choice to replace the current home loan with a new one that will have a higher loan amount than what is presently owed on the existing mortgage. This makes it possible for the homeowner to get access to equity that can be used to consolidate higher interest debts, home improvement,…
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One of the largest investments of your life is likely going to be the home you own. Technically, your residence or place where you live is not considered an investment yet we all check the value of our residence periodically. And wouldn’t you like all that money you pay out each month to b less…
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FHFA’s refinance fee was postponed for 90 Days by lawmakers. Mortgage rates went up suddenly during the past three weeks. Without a locked-in rate, borrowers seeking to refinance noticed discounts, credits, and savings start to slip away. Why did interest rates rise? The first reason was rise in the 10-year treasury bond from .52 to…
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If you are a homeowner who has a mortgage, it’s likely that you’ve been told about refinancing through the media and friends. This experience has probably cemented some arguments why refinancing your home loan is not a good idea. Without a doubt, refinancing is not the right thing to do for all homeowners. For this…
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As mortgage rates have fallen the past few months, is now the time to refinance? Homeowners who bought in the last couple of years may have some great options available. Almost all loans now give borrowers the right to prepay their mortgage without penalty. This means you can lower your monthly mortgage costs in the…
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Are you aware that 25% of home purchase transactions are completed without any sort of financing? This comes from data provided by the National Association of REALTORS®. However, these all-cash buyers are not far removed from using their own funds for very long. “Cash out” refinances are available to buyers without a mortgage just 24…
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Fewer underwater mortgage holders, but Las Vegas still at the top of the mountain. The share of Las Vegas homeowners who are underwater continues to move downward, but it continues to be the highest of all large U.S. cities. As of January, 2016, 22.1 percent of Southern Nevada homeowners with home loans owe more than…
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Let’s say you purchased a home in Mission Viejo, CA in the summer of 2013 for $659,000 and got a 30 year fixed FHA with a 3.625% interest rate. That sounds great so far but it was done using FHA which comes with PMI. The borrower only put down 3.5% and has to pay $677 every…
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