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Home Equity Blog

Waiting for the refinancing sweet spot

As the economy continues to show signs of improvement, many homeowners may be waiting for the refinancing sweet spot. What's the refinancing sweet spot It's the point at which the economic recovery has progressed enough to support higher housing prices, but not enough to push mortgage rates higher. It's a delicate balance, and homeowners who have not yet been able to refinance need to keep a close eye on both sides of this balancing act. The outlook on housing According to the S&P 500/Case-Shil [...]

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FHA cash-out refinancing can tap into rising equity

As home values rise and homeowners pay down their mortgage loans, owners will see a higher level of home equity. Back before the housing bubble burst, homeowners frequently took out home equity loans or refinanced and increased the size of their loan balance so they could use their equity to pay bills or make home improvements. Lenders at that time sometimes allowed homeowners to borrow above the value of their home because of their confidence that home values would continue to rise. Today, lend [...]

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Home equity low? Try an FHA refinance

Low mortgage rates have enticed hundreds of thousands of homeowners to refinance during the past year, but not every homeowner has enough home equity to qualify for a conventional refinance. Declining home values in many housing markets cut into the equity of many homeowners, but other homeowners lack equity because of their initial home financing choices. If you bought your home during the height of the home-buying frenzy, you may have taken advantage of a low- or zero-down-payment home loan, w [...]

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Options for Refinancing with Low Equity

Recent decreases in home values have left many homeowners unable to take advantage of refinance opportunities. But even with low home equity, you may still be able to refinance your mortgage. Many lenders are willing to approve a home refinance of up to 90% or sometimes even 95% of your home value. When gathering refinancing information, one of the first steps you should take is to get an estimate of your current home value. Most lenders require an appraisal, but you can get an idea of your hom [...]

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