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Home Refinancing

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3 Things You Should Consider Before You Refinance

Hey, homeowners, you’ve survived the mortgage process at least once already. And, honestly, there was no better training ground to prepare you to refinance your current home loan. You may be wondering when it would make sense to refinance your mortgage. And if you’re like so many of us, you’re probably coming up with more...

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3 Tips To Get The Best Refinance Rates

After you’ve lived in your home for a few years, it’s normal to start thinking about what’s next for you and your money. Do you want to try your hand at DIY home improvements? Is it finally time to go back to school or maybe pay off student loans? They’re all great ideas — but...

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How To Pay Off Your 30-Year Mortgage in 15 Years

A house is one of the biggest purchases you’ll probably make in your lifetime. Who wouldn’t want to pay off such a big purchase early? Even with low interest rates on 30-year mortgages, if you pay off your mortgage in less time – let’s say 15 years, for example – you’ll owe less in overall...

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Does Refinancing Hurt Your Credit?

If you’re thinking of refinancing your mortgage, auto loan or your student loans, you may be wondering if it will affect your credit. The short answer is yes. But the good news is that the impact won’t be major or last too long. Want to refinance and keep your credit in good shape? Read on...

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What Is a Verification of Mortgage?

Let’s say you recently sold your home and want to buy a new home. Or maybe you’ve decided to refinance your mortgage with a new lender. In either case, your new lender is going to want to know more about your history with your previous mortgage lender.  To get that information, they may request a...

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Home Appraisals: How To Refinance Successfully

You may be thinking about refinancing your home for any number of reasons. Maybe you’re hoping to get your hands on some cash (hello, equity!), shorten the length of your mortgage or you want a lower monthly mortgage payment.  Whatever the reason, chances are that you’ll be looking at a refinance appraisal – a refinancing agreement...

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What Is an Appraisal Waiver?

Imagine finding an extra $300 – $450 in your pocket. Doesn’t that sound nice? That money will have you feeling all the feels – especially if you’re in the process of buying a home. Where wouldn’t it help, right? That extra $$$ could go toward your moving costs or that new walnut coffee table you...

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How and Why Should You Refinance a Construction Loan

For some home buyers, the existing pool of homes doesn’t meet all their wants or needs. Maybe your must-haves require building the home of your dreams from the ground up. Maybe life in the city has lost its shine, and you want to build a home in a quieter area. It may also be the...

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What Is a Prepayment Penalty and How Can I Avoid It?

Crack open a finance book, scroll through Instagram, listen to a money podcast or watch a financial pundit on TV. Almost all of them will share a common rule of personal finance management: Pay off your debts sooner rather than later.  While this rule of thumb has its place in everyone’s money management action plan,...

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How To Pay Off a Mortgage in 5 Years

Just because you’ve got a 25-year or 30-year mortgage term doesn’t mean you actually have to take anywhere near that long to pay it off. You can pay off your loan much earlier. And if you’re up to the challenge, you can even pay off your mortgage in 5 years.  It’s true, paying off your...

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How Soon Can You Refinance a Mortgage?

For many homeowners, their monthly mortgage payment is their biggest recurring expense. Refinancing can be an attractive option if it gets you a lower interest rate or shortens the life of your loan.  In 2020, there was a refinancing boom fueled by a drop in interest rates during the coronavirus pandemic. Refis were such a...

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Can You Move Your Mortgage to Another Bank?

Finding a mortgage lender is a bit like finding the right person to marry. After all, a home loan is probably the largest and longest loan you’ll ever take out. You could be in a “relationship” with your lender for up to 30 years.  But what if things change and you slowly fall “out of...

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The Cost To Refinance Your Mortgage: How Much Is It?

Interest rates are low and you’ve been paying off your mortgage for a few years. Maybe you’ve started to wonder if refinancing will save you any money. Well, it depends on how much the refinance process is going to cost. The cost to refinance your mortgage might be well worth the effort if you’re looking...

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No-Appraisal Refinance – That’s a Thing?

Home loan refinancing is all the rage nowadays.  In 2020, mortgage refinances (aka refis) were so popular that 1 out of every 10 refinances was done on a mortgage loan that had ALREADY been refinanced at least once in the previous 12 months. That’s a lot of refinancing! Historically low interest rates have made refinancing...

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How To Refinance an Investment Property

Whether it’s a vacation home or a multiunit rental property with tenants, real estate investors can take pride in their financial savvy. With the right investment property, you’re not only earning income from your tenants, but you’re building equity.  The other side of the proverbial coin is expenses.  The biggest single expense for investment property...

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What Is a No-Closing-Cost Refinance?

If you’re a homeowner, refinancing your mortgage can be a great way to: Get a lower interest rate (especially if interest rates are low) Reduce your monthly mortgage payments Shorten your repayment period Take advantage of your home equity But before you can enjoy those perks, you have to pay your closing costs. Remember the...

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What Is a Reverse Mortgage?

Is it even daytime TV if you don’t catch an ad or two featuring charming, silver foxes like Tom Selleck, Henry “the Fonz” Winkler, or Joe Namath telling you about the benefits of a reverse mortgage? The spokesperson may change, but the message rarely does: “You’ve worked hard to pay down or even pay off...

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Should You Refinance Your Mortgage To Pay Off Debt?

By the middle of 2021, total U.S. household debt was more than $14 trillion, according to the Federal Reserve Bank of New York. Credit card debt accounted for $0.79 trillion of that total.  While Americans have paid down their credit card balances by $140 billion between the end of 2019 and the first quarter of...

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Cash-Out Refinance, From ‘Huh?’ to ‘Ahh!’: A Simple Explainer

Cash-out refinancing (or cash-out refi) is a creative way for homeowners to borrow the money they need for big financial goals. Allow us to oversimplify for a sec. It’s kind of like using your house as a piggy bank. Except in this case, you’re finally taking out the money you’ve been putting into it (aka...

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How To Refinance With a Low Appraisal

One of the great things about mortgages is that if you don’t like your current one, you have the option to refinance and get a new one. As a homeowner, you’d probably refinance for one of these reasons: Lower interest rates: If mortgage rates are low, you may be able to refinance and get a...

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2 Mortgage Refinance Options For Those Without Income

Are you experiencing a sudden financial hardship such as a loss of employment? Discover how refinancing can help reduce your monthly mortgage payment.

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Refinance Your Mortgage To Lower Monthly Expenses

Learn how to lower your monthly mortgage payments and the interest rate on your home loan by refinancing.

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Is It Better To Prepay Or To Refinance?

Compare the pros and cons of refinancing with current low mortgage rates to making additional payments towards the principal and saving on interest.

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Refinancing Your Mortgage To Pay Off Debts

With growing consumer debts, should consumers refinance their mortgage to pay off debts? Discover some of the pros and cons.

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