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Home Refinancing

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3 Things You Should Consider Before You Refinance

If you’re a homeowner, congrats! You survived the mortgage process once already, giving you a good baseline for what to expect when it comes to refinancing your home loan. Maybe interest rates are low and home values are up. So, it’s no surprise that you’re asking yourself if you should refinance your mortgage. Makes sense...

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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 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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