Refinance Mortgage Articles

The new GFE is expected to save borrowers an average of $700 per mortgage transaction, according to HUD. It makes shopping for a mortgage refinance easier and more transparent, putting the terms of your home loan upfront where you can easily see them, and including a worksheet to compare different home loans. But many lenders [...]

Are you sick of all the advertisements proclaiming that interest rates are under 5%, when you can’t get anything lower than 6.5%? Jumbo lenders feel your pain, and there may be a way around it. Your Big Fat Mortgage Refinance What can you do to get a lower interest rate today on a jumbo mortgage? [...]

A traditional refinance, a Home Affordable Refinance Program (HARP) refinance, a Home Affordable Modification Program (HAMP), or a non-government modification–these are all options for improving your mortgage interest rate. But which is right for you? The HAMP program offers the best deal if you qualify–think of it as a refinance with a rate as low [...]

Refinancing isn’t just about getting a lower payment or even a lower interest rate. You can get a lower monthly payment but find yourself paying tens or even hundreds of thousands more over the life of your loan. Any time you refinance from one mortgage to another with the same term, for example thirty years, [...]

In the past, applicants for refinances or property purchases who didn’t have an arsenal of credit cards, car loans, or mortgages were able to get approved for home loans anyway–the lack of trade lines on their credit reports just meant that a special credit report had to be created from rental histories, utility payments, and [...]

Refinancing a mortgage is not a cheap proposition–there are title and escrow charges, appraisal expenses, recording fees, transfer taxes, and lender charges. If the idea of writing a check for all of that makes you a little queasy, a no cash or no cost refinance probably sounds very good. No Cost Isn’t the Same as [...]

Many homeowners prefer to pay their property taxes and homeowners’ insurance when they are due–and not a moment before. But lenders may not allow them that choice, or they may charge homeowners extra for the privilege of paying their own bills. What gives? Impound or escrow accounts are generally optional as long as your home [...]