17
Mar
By Jim Hasek
Mortgage, ,

How Negative Closing Costs Work

If you want to save money on your home loan, you might be thinking about refinancing your mortgage. You might be able to replace your existing mortgage with a home loan that has a lower interest rate. Even a single point reduction in your interest rates could save you tens of thousands of dollars over the life of your loan. Before you refinance, be sure to ask about closing costs. Because you are replacing your existing home loan with a new one, you may incur some closing expenses. On the other hand, you could also have negative closing costs. In…
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15
Mar
By Jim Hasek
Mortgage, ,

What Are The Top Signs You Need To Refinance?

You might have heard that more people are refinancing these days. During the refinancing process, you essentially take your current home loan and replace it with a different one. You can reduce your mortgage payments, shorten the life of your loan, or withdraw cash you can use for other purposes. What are a few of the signs that indicate you should consider refinancing?  You Can Secure A Lower Interest Rate If you think you can secure a lower interest rate on your mortgage, it might be time to refinance. There are a number of reasons why you might be able to…
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11
Mar
By Jim Hasek
Mortgage, ,

How Can A Cash-Out Refinance Help You?

If you have been in your home for a while, you might be able to refinance. If your credit score has increased, your income has gone up, or the average home loan interest rate has gone down, you might be able to conduct a cash-out refinance. During this process, you can keep your mortgage payments the same, secure a lower interest rate, and withdraw the difference as cash. What can you do with this extra cash?  You Can Make Improvements To Your Home One of the most popular ways people use a cash-out refinance is to increase the value of…
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09
Mar
By Jim Hasek
Mortgage, ,

How Long Does A Refinance Take?

If you want to save money on your mortgage, refinancing your house could be a great move. As long as you have plenty of equity and a great credit score, you should be able to qualify for the refinance process. At the same time, you might be wondering, how long will it take you to refinance your house? There are several factors to keep in mind, so be sure to work with a professional who can walk you through the process. It Usually Takes A Month Or Two In general, refinancing your home loan will take a month or two.…
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08
Mar
By Jim Hasek
Mortgage, ,

Why Did My Application For A Refinance Get Turned Down?

If you want to save money on your home loan, you might want to refinance. During the refinancing process, you could secure a better interest rate on your home loan. You could also withdraw cash from your home’s equity value to cover other expenses. Similar to a regular mortgage application, some refinance applications are denied. Why is this the case, and what should you do next?  Your Debt To Income Ratio Is Off One of the most common reasons why an application for a home refinance is turned down is that the applicant has too much debt. The lender will…
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25
Feb
By Jim Hasek
Mortgage, ,

How Can You Secure A Better Interest Rate When Refinancing Your Home Loan?

If you want to save money on your home loan, you may want to consider refinancing. During the refinancing process, you will replace your existing home loan with a new one; however, you want to secure the lowest interest rate possible. How can you get a better rate on your mortgage during the refinancing process?  Consider Refinancing Your Home Loan To A Shorter Term If you can create less risk for the lender, you can get a lower interest rate. One of the ways to do so is to refinance your home loan to a shorter term. If the average…
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