There are many reasons why a homeowner might choose to refinance his or her mortgage. One of them is to consolidate high-interest debt. Consolidating your debt by refinancing with a low mortgage rate can help you get a better handle on your finances, and it can save you a lot...
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Move in With Just 3% Down
Buying a home is a significant financial commitment. In fact, for most people, it will be the single biggest financial purchase of their lives. And that’s not just because of the mortgage payment. There is also the matter of the money you put down, at closing. It is generally accepted...
Refinance to the Low Rates You Deserve
There are many reasons to consider refinancing your mortgage loan. For example, you may have a 30-year mortgage term, and wish to condense it into a 15-year loan so that you can get your home paid for more quickly. Or, conversely, you may want to switch from a 15-year to...
Refinancing an FHA Loan to a Conventional Loan
There are many potential benefits to refinancing your mortgage loan. Refinancing allows you to take advantage of superior loan rates, for example, or to change the term of your loan. You can also change the type of loan you have—for instance, refinancing an FHA loan into a conventional one. Is...
Should Your First Home Be an Investment Property?
Generally, people wait until after they’ve bought their first home—or in some cases even their second—before they start seriously investing in real estate. However, there’s no rule to say that you can’t start earlier. In fact, more and more people are making their very first home purchase an investment property....
The Pros and Cons When Considering a 15-Year Mortgage
Many borrowers and aspiring homeowners assume that they’ll be making mortgage payments for a full 30 years. While the 30-year mortgage has long been the standard, it’s important to know that other options exist—including one that cuts the standard loan term in half. Of course, we’re talking about the 15-year...
What Does a Loan Officer Do?
Lenders exist to loan people funds. Money that can be used to close on a home, start a small business, make renovations to a property, etc. However, lenders don’t loan money to just anyone, and securing a loan requires you to prove that you are creditworthy. This process will invariably...
What to Expect During the Home Loan Process
Buying a new home is exciting, but it can also be a little intimidating, especially if you have never done it before. The loan process, in particular, can seem daunting. Certainly, there will be some paperwork to complete, some regulatory hoops to jump through, and several steps to the process...
When Should I Consider Refinancing?
The home loan process is something that most homeowners go through at least once. When it comes to refinancing your home mortgage loan, is it worth it to go through the process again? The answer is yes, with some caveats. Refinancing can certainly be beneficial, but it’s not always a...
5 Mortgage Refinancing Errors to Avoid
There are many reasons to consider a mortgage refinance—shrinking your monthly payments, minimizing your interest rate, or freeing up additional cash for another major purchase. With that said, refinancing doesn’t always work out as borrowers hope it will, and there are a few common refinancing errors you’ll want to avoid. ...