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Mortgage.info is your information portal for all things home, mortgage, and refinancing.

If you currently have an ARM loan, you might wonder if you should refinance into a fixed-rate loan so you don’t have to worry about the rates changing. Unfortunately, it’s not a one-size-fits-all answer. You must determine what factors play a role in your decision. For example, with interest rates continually increasing, you may want to decide if you should refinance and, if so, may want to do so soon. Can you Refinance an Adjustable-Rate Loan? The short answer to can you refinance an adjustable-rate loan is ‘yes.’ The longer answer is that it depends on your qualifying factors. There…

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A HELOC or home equity line of credit is a second mortgage on your home. Homeowners use it to turn their equity into cash. It’s a great way to use your home’s equity without being forced to sell your home or refinance your first mortgage. Understanding the HELOC A HELOC isn’t a fixed mortgage. Instead, it’s a revolving line of credit. You receive a credit line that you can draw on after you close. The draw period lasts for ten years. You can withdraw the entire credit line or a portion during that time. You’ll owe interest on any funds…

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Today’s interest rates are extraordinarily high compared to what most borrowers have seen in the last couple of years. So if the higher rates are pricing you out of the market or you wonder if now’s the right time to buy a home, you might consider a 2-1 buydown. This temporary rate buydown makes your mortgage payment more affordable and then adjusts to its ‘normal’ rate at the end of the temporary period. Here’s what you should know when deciding if the 2-1 buydown is right for you. Understanding the 2-1 Buydown As the name suggests, the 2-1 buydown offers…

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Home values increased drastically over the last year, leaving homeowners with much more equity than before. If you’re sitting on a large amount of equity, you might wonder if you can liquidate it. The cash-out refinance is one way to do it, but is it worth it? Here’s what you must know. What is a Cash-Out Refinance? A cash-out refinance is a refinance of your first mortgage. It refinances your existing loan plus gives you access to some of the home’s equity that would otherwise stay tied up in the home. Most loan programs allow homeowners to use up to…

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It’s tough to choose between saving for retirement or buying a home. Of course, you need a place to live, but you also need money for retirement. How do you know when it’s the right time to buy a home? Some people think owning a house is better. After all, it’s the American Dream, and you can use your home’s equity in retirement if necessary. Others don’t want the burden of a high mortgage payment and would rather focus on retirement. Which is right for you? Ask yourself these questions to decide. Does your Employer offer an Employer Match? If…

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