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Home Refinance Articles

Refinancing - Things to Consider
There are three primary aspects to refinancing that must be considered carefully: the interest rate, loan length, and fees. These aspects should be weighed against the existing loan and the amount of time the borrower is planning to stay in their home. When it is not done...
Mortgage Refinance Overview
Our detailed overview will provide you with all the refinance information you need to take control of your financial situation and make an informed decision about your mortgage.. Refinancing a Home MortgageIn a refinance, you take out a new home loan and use it to pay off your...
Mortgage Refinance Tips
Refinancing your mortgage is a great way to reduce your monthly mortgage obligation, create additional cash flow for savings or other pursuits. You should weigh your options on whether or not a refinance will make sense for your financial situation. Start your...
5 Common Obstacles to Refinancing
Refinancing an existing mortgage can be much simpler than obtaining a brand new home purchase mortgage from scratch. Despite this, refinancing can be difficult for some borrowers, especially in the wake of the relatively recent mortgage crisis. If you are hoping to...
Conventional Versus FHA Refinancing
In today’s difficult economic climate, borrowers need to carefully consider their options and goals when choosing to refinance. Generally, refinance loan options can be split into two categories: conventional mortgage loans and government-insured, most...
Refinance Closing Costs
The costs of a refinance will differ depending on your lender, location, and loan amount. However, there are some typical costs that will most likely stay the same. In general, you will end up paying anywhere from 3% to 6% of the loan’s principal balance.. Upfront FeesWhen...
Refinance Strategies: Choosing Between a 20- or 30-Year Mortgage
Natalie and Michael Barrington* are considering a refinance under the Home Affordable Refinance Program, or HARP 2.0. After trying and failing to qualify for a loan modification on their underwater mortgage, the Barrington’s have decided to investigate the...
HARP 2.0 Eligibility and Qualifications
What is the HARP 2.0?HARP 2.0 is a readjustment of the original HARP (Home Affordable Refinance Program), and is designed as a mortgage tool for borrowers who could not refinance their mortgages the conventional way due to a loan-to-value (LTV) ratio exceeding the value of the...
Refinancing a Conventional Loan
In order to refinance an existing mortgage into a conventional loan , borrowers must be able to meet conventional loan requirements. This is similar to when borrowers are applying to purchase a home using a conventional loan. There are several reasons why one would want to...
HARP 3 Refinance
The possibility of HARP 3 passing has underwater homeowners and mortgage experts alike buzzing with excitement. The expanded program would target underwater homeowners with mortgages not backed by Fannie Mae or Freddie Mac and those who don't otherwise...
HARP 2.0 Refinance Explained
The Home Affordable Refinance Program (HARP) is a federal assistance program that was founded in order to allows underwater borrowers to refinance. Since its creation, the HARP refinance program has been revamped into the HARP 2.0 program, removing its previously enforced...
HARP 2.0 FAQ
The Home Affordability Refinance Program (HARP) is a refinance program that was created to assist homeowners who are struggling with financial hardships, and seeking more affordable payment plans. The underlying concept of HARP is to prevent the housing market from...
How to Transfer a Mortgage
A mortgage transfer is defined as a transaction in which the borrower, or lender, assigns an existing mortgage to another person or entity. If a mortgage can be transferred, it is referred to as “assumable".. Assumable mortgages fade in and out of popularity...
Should I Get a Second Mortgage or Refinance?
When attempting to choose a course of action, you may be faced with the choice of performing a cash-out refinance to get cash from your current home mortgage or extracting some of the equity through a home equity loan (HEL) or home equity line of credit (HELOC). While both...
How to Refinance After Bankruptcy
Bankruptcy can be very unsettling, demoralizing and stressful. The challenge of obtaining a mortgage after a bankruptcy has increased with new regulation. But it is still possible to obtain a mortgage if you plan accordingly to get yourself into financial recovery. Take...
Can I Refinance an Investment Property with HARP?
To dispel any confusion, this article will examine the main myths of the Freddie Mac HARP refinance that prevent borrowers from being able to obtain a HARP refinance on investment properties.  But first, it's imperative to understand that  HARP refinancing...
Calculating your Refinance Closing Costs
When performing a home refinance, borrowers should always calculate the costs of the refinance against the potential benefits. Typically, this requires comparing the gains of a lower interest rate or shorter term against the cost of securing a refinance loan; however,...
What Is An Option ARM Loan?
An Option ARM loan is an adjustable rate mortgage with the ability to select from a variety of payment options every month. Option ARM mortgages typically have low starting rates which allows you to make very low initial mortgage payments and qualify for more home. Our...
Refinancing An ARM Loan
Are you stuck in a mortgage with a rising interest rate?  After an initial period of low payments, adjustable-rate mortgage or ARM loan terms can be very financially damaging for borrowers. An ARM refinance can get you out of this volatile situation and...
Requirements for FHA Streamline Refinance
 First and foremost, you must have an FHA loan to be eligible for an FHA Streamline Refinance.. Other requirements include the following.. You must be current on your mortgage paymentsYou can't have had any late payments in the past three monthsYou can't have had...
Can a Low Appraisal Affect My Refinance Options?
When refinancing a mortgage, you can't solely rely on sound financial standing. For a successful refinance application approval and the lowest interest rates possible, you will need an accurate home value appraisal. . In the past, loan officers maintained...
Benefits of FHA Streamline Refinance
For many homeowners, refinancing can seem daunting, due to most refinance programs requiring the same approval and processing as standard mortgage loan closing. However, homeowners with mortgages insured by the Federal Housing Administration (FHA) have a unique...
Popular VA Refinance Options
If you are looking to refinance your VA mortgage loan, the two popular options to choose from are: VA cash-out refinance or a VA streamline refinance. In short comparison between these two refinance options, the VA cash-out refinance allows borrowers to extract cash from...
Benefits of Refinancing With a VA Mortgage
 Since the end of the Second World War, over 14 million U.S. veterans have received a home loan through the Department of Veterans Affairs. One of the most common home loan programs available, VA loans offer tremendous benefits to qualified military personnel. Many are...
VA Loan Modification
The Department of Veteran Affairs provides many ways for eligible veteran borrowers to retain ownership of their homes during financial hardships. For veterans who have purchased a home with a VA loan, the VA offers loan modification as an option, allowing borrowers...
Save Money by Going Green
If you're preparing for a home purchase or you're planning to refinance your current mortgage, you're probably researching ways to cut costs and save additional money on your home loan.  If not, you should be.  There are a number of different cost...
Analyzing HARP Market Interest Rates
The overall aim of the Home Affordable Refinance Program (HARP) is to provide homeowners who have upheld their mortgage obligations with the opportunity to refinance through HARP 2.0 into the currently low interest rates.. Essentially, this allows these responsible...
Could we soon be seeing HARP 3.0?
As the elections are now behind us, speculation of a HARP 3.0 is growing louder.  HARP 3.0 was conceptually introduced in January 2012 as part of President Obama’s annual State of the Union address.  Obama made a statement that every “responsible...
What is the HARP 3 Refinance?
HARP 3.0 has garnered much attention and could achieve the level of success that many anticipated prior to the lukewarm reception of the original HARP. Only months after the launch of HARP 2.0, a plan to implement another revision of HARP has been introduced, aptly titled HARP 3.0...
Why Are Skeptical Homeowners Passing Up on HARP Refinance?
Numerous American homeowners are taking advantage of the historically low interest rates that have begun to increase in the 2013; however, a large portion of borrowers are missing out on these rates due to refusing refinances. As 2012 wound down, Lisa Price offered her...
5 Things to Know About Refinancing Under HARP 2.0
Many borrowers want to reap the benefits of low interest rates by refinancing their mortgage, but face refusal from banks because the amount owed on the loan is greater than the current value of their home.. The news is full of stories about individuals who purchased a home that...
3 Tips for Refinancing Your Mortgage With Bad Credit
If you want to refinance but have bad credit, you may find yourself stuck.  Most lenders won't offer you the best mortgage rates available unless you have stellar credit.  But if you have bad credit and want to take advantage of current interest rates, there are...
Infographic: Should I Refinance My Mortgage
How low can your monthly payment get? See for yourself with our free, personalized refinance quotes. Have a question? Ask our mortgage professionals an annoymous question!.
Infographic: HARP 3.0
Want to lower your house payment? HARP refinance is your best option. This government assisted refinance option allows you to modify your current loan to lower interest rates. HARP 3.0 is a revision to the current program, which includes a decrease in restrictions for...
Mortgage Rates 6-19-2013
Today's mortgage rates continued to slip upwards, approaching the 52-week high reached last week, demonstrating continuing instability. Recent rate trends indicate rates have risen in response to rising consumer confidence and optimistic economic data.. 30-year...
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