Should I Use My Home’s Equity to Pay for Renovations?

Mortgages

Should I Use My Home’s Equity to Pay for Renovations?

Should I Use My Home’s Equity to Pay for Renovations?

If you need to borrow money for home renovations but you don’t want to tap your assets, a cash-out refinancing of your home could be a good move. Generally, when expenses such as a new roof or backyard renovation present themselves, cash-out refinancing might make sense, but there are costs associated with going this route, so... Read More

The Homebuying Cost You Shouldn’t Overlook

Mortgages

The Homebuying Cost You Shouldn’t Overlook

The Homebuying Cost You Shouldn’t Overlook

When people are looking to buy a home, they may be thinking about how much they’ll need to save for a down payment or what monthly mortgage payment they can afford. But there’s another expense prospective homeowners should consider before taking out a mortgage: closing costs. What Are Closing Costs? When you take out a... Read More

How Much Can I Refinance My House For?

Mortgages

How Much Can I Refinance My House For?

How Much Can I Refinance My House For?

Refinancing can shave years off your loan and help you pay off your home faster. When you refinance your home, your loan amount can be whatever you choose it to be. It can be a lower amount than what you currently owe on your home, which would require bringing in cash to close escrow. Or it... Read More

What Should You Do With Extra Cash From Refinancing?

Mortgages

What Should You Do With Extra Cash From Refinancing?

What Should You Do With Extra Cash From Refinancing?

I was sitting in my local coffee shop recently and a gentleman sat down next to me with his friend. He was apparently a mortgage broker giving some business tips to a younger broker in order to help him increase his business. Something I overheard him say caught my attention: “You can tell your borrowers... Read More

Have a Massive Mortgage? Here Are Some Tips for Refinancing

Mortgages

Have a Massive Mortgage? Here Are Some Tips for Refinancing

Have a Massive Mortgage? Here Are Some Tips for Refinancing

If you’re looking to refinance your home and pull out funds for home improvement, there’s good news. Lending guidelines were recently loosened on cash-out refinance transactions. Here’s what you should know if your loan size exceeds $417,000. First off, it’s going to cost more. Here’s why: When a mortgage loan exceeds this threshold, it moves... Read More

The Key to a Smooth Mortgage Process? Paperwork

Mortgages

The Key to a Smooth Mortgage Process? Paperwork

The Key to a Smooth Mortgage Process? Paperwork

So you are ready to apply for a mortgage or refinance your current mortgage to terms better suited for you? You may be focusing on your home or researching the details of the arrangement, which is great, but you might want to get down to work on paperwork. You will always need to prove your... Read More

Should You Refinance Even If You Plan to Sell Your Home?

Mortgages

Should You Refinance Even If You Plan to Sell Your Home?

Should You Refinance Even If You Plan to Sell Your Home?

Are you interested in refinancing your mortgage, but hesitant to do so because you’re thinking of selling your home at some point? Believe it or not, refinancing could still make sense. Here are several reasons why you might want to consider refinancing anyway. Your Financial Circumstances Could Change Let’s say you plan to sell your... Read More

Why Refinancing Isn’t As Easy As You Think

Mortgages

Why Refinancing Isn’t As Easy As You Think

Why Refinancing Isn’t As Easy As You Think

Homeowners who haven’t gone touched their mortgage in recent years are often astonished at the amount of paperwork they’ll need in the refinancing process today. If you haven’t refinanced or gotten a mortgage in the past five years, here’s what you need to know to get up to speed. Paperwork to Compile Scrounging up supporting documentation for... Read More

How to Refinance a Jumbo Mortgage for Less

Mortgages

How to Refinance a Jumbo Mortgage for Less

How to Refinance a Jumbo Mortgage for Less

If rising mortgage rates have spooked you into refinancing but your loan size is more than $417,000, pay particularly close attention. Traditionally, these loans cost homeowners more, but there are new investors in the marketplace offering better rates and deals on larger mortgages. The Big Question to Ask It doesn’t matter where you apply to... Read More

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