Is it better to refinance your mortgage to a lower interest rate or continue with an existing mortgage? What factors should you consider when refinancing a mortgage loan? Determining whether it’s a good idea to refinance a mortgage depends not only on the interest rate but also on how long you plan to stay in the home. Learn more here about how to refinance your mortgage in the articles, columns, radio shows, blog posts and videos.
The owner of a manufactured home asks whether to pay off the mortgage loan or invest extra money. Since the manufactured home is a second home or investment property, the home owner should consider how his taxes will be affected. Tax software or a tax preparer before can help sort this out before deciding to refinance this manufactured home.
Can you can cancel a mortgage refinance loan after having signed the paperwork. It depends on how soon after having signed the refinance documents you change your mind and some lenders may charge fees for backing out. Some contracts list specific cases when it is OK to cancel a loan.
Refinancing may not be the best option to consolidate debt. If you don't have any equity in your property, you cannot refinance in order to consolidate debt. Mortgage lenders are getting picky about how much cash you can borrow against your equity. These days, they're not doing 100 percent loans, or anywhere close to that. If you're in a declining market, where home prices are falling, they might not refinance you if you have less than 5 or even 10 percent equity in your home.
A home owner asks how to refinance his home loan. The home loan refinance market has become chaotic so it pays to shop around and save money. A good place to refinance your home loan is a credit union, where you can save a lot of money because you can often get cheaper rates.
Mortgage refinancing is the first thing to do when the Federal Reserve lowers its rates, right? Mortgage rates often move in opposition to the Fed. Good credit and equity in property will help you qualify for a new mortgage but you should shop around and do the math first to find the best interest rate.
This divorcee is unable to refinance her home to remove her ex-husband's name, and can't afford the house on her own. The only way to get a name off of a mortgage is by refinancing. If the woman can't afford her home after her divorce, selling it might be a better option than refinancing.
While prepayment penalties are prohibited by many states, they're permitted by federally-chartered lenders. Who is a federally chartered lender? Any lender that has established its charter not in any one state but as a federal savings bank or under federal laws. Think of your major mortgage lenders, most online lenders, and local banks that have chosen to organize under a federal charter. If you're considering getting a home loan that has a prepayment penalty attached or considering refinancing an existing loan with a prepayment penalty, here's what you need to know.
If you are getting property as part of a divorce settlement, what is the best way to refinance your mortgage payment? What are your options on how to refinance the mortgage on the property you will be receiving in the divorce? You should be able to afford the new mortgage payment after refinancing.
It's hard to predict if interest rates are going to go up or down, so it's tough to know the best time to refinance. The best strategy for refinancing is figuring our your options at today's rates and shopping around for a good lender.
To remove someone from a mortgage loan, you have to refinance. To refinance a mortgage loan you have to show that you can make payments, through the form of holding a job. You can't refinance a mortgage loan without a job, even if both parties want to speed up the refinance process. In addition, if you want to sell the home you need to have permission of the other person whose name is on the mortgage.