It is an age-old question – how much home equity do you need to secure a refinance? The answer is not as simple as the question, though. It depends on the program you choose. The parameters are different for FHA, VA, conventional and subprime loans. Here we will look at each program to give you an Read more
Can You Obtain a No Cost Mortgage With a Refinance?
Refinancing a mortgage costs money. The lender needs to pay third parties for various services as well as use its own resources to fund your loan. In order to compensate for the costs involved, they charge you closing costs. Because there is not a seller to help pay these costs as there is with a Read more
What Happens to My Existing Escrow Funds When I Refinance?
There is more to your mortgage payment than just the principal and interest – you also pay real estate taxes and homeowner’s insurance. If this is your first loan or you just opted to have the lender handle your real estate tax and homeowner’s insurance payments, you have an escrow account. This Read more
What are the FHA LTV Limits for Refinance in 2021?
Every loan program has limits regarding the LTV they will allow and the FHA program is no exception. Understanding the FHA refinance LTV limits will help you understand what you can and cannot do with your FHA loan and how much you can borrow. There are several types of FHA refinances including the Read more
Follow These Tips for a Smooth Refinance Closing
You probably remember the stress of closing your home loan when you bought your home. If you are now thinking of refinancing, you’ll go through some of the same stress. While refinancing isn’t as hard as buying a home, you still have some hoops to jump through in order to get your loan.Looking Read more
