You already have a mortgage, so you assume you know everything about refinancing. This may not be true, though. There are some differences between a purchase mortgage and a refinance mortgage. Before you start the process, familiarize yourself with these terms. This will enable you to know the right Read more
Reasons to Consider a Stated Income Refinance Loan
The stated income loan received a bad reputation after the housing crisis. In fact, there was a long period of time where no lenders offered this program at all. Now that things have settled down and lenders figured out the best way to handle certain situations, the stated income purchase and stated Read more
Should You Do a Cash-out Refinance to Pay Off Your Student Loans
According to Business Insider, student debt in the United States is over $1.3 trillion and more than 70 percent of college graduates have student debt. When you combine student debt with mortgage payments and all other daily expenses, many consumers feel overwhelmed. Rather than making multiple Read more
How Much Mortgage Can You Afford? Find Out.
Your mortgage affordability will look much different on paper from what you can comfortably afford in real life. Do not make the mistake of falling for the loan amount a lender says you can afford. Work the numbers and know exactly what you can afford without putting your daily expenses at risk. The Read more
Home Equity Loan vs HELOC: Pros and Cons
If you have equity in your home, you might be able to take some of the equity out of it. There are several ways to do this – refinance your first mortgage as a cash-out refinance; take out a home equity loan; and take out a home equity line of credit. The first mortgage refinance would leave you Read more
Should You Make Home Renovations Before a Refinance?
If you want to refinance your home, you have a little work to do first. The first step is to ensure your finances are in order. Second, you should determine the changes you can make to your home to increase its value. Even if you know your area’s home values increased, small changes can make a big Read more
