Is it better to refinance your mortgage to a lower interest rate or continue with an existing mortgage? What factors should you consider when refinancing a mortgage loan? Determining whether it’s a good idea to refinance a mortgage depends not only on the interest rate but also on how long you plan to stay in the home. Learn more here about how to refinance your mortgage in the articles, columns, radio shows, blog posts and videos.
Refinance Options Limited After Lock
A home owner obtained a mortgage with a one time option to float down the rate. He is now locked in on that new rate. The only thing the home owner can do is talk to the lender and explain that if they can't do anything, he'll probably be refinancing your loan within months. The home owner might be stuck with the rate until he can refinance.
Pay Off Mortgage With Extra Payments
To pay off your mortgage early you will want to prepay your mortgage loan's principal. But when should you make extra mortgage payments? It doesn't matter when you make the extra mortgage payments since the exact date is what's tracked, not the year. Learn how much you can save if you prepay your mortgage.
Intrusive Question From Lender
Home owners are refinancing and the lender has requested retirement fund information. There is standard information a lender needs and ways to check with state's office regarding problems. Certain questions aren't appropriate for a mortgage application.
Common Questions About The Right Time To Refinance
Interest rates are a tough call, and so is the best time to refinance. There are a few things you can look at to determine if it's the right time to refinance your home. Here are some answers to common questions about refinancing.
Mortgage Loan Decisions Include Points
When you're applying for a mortgage loan or refinancing a mortgage loan you'll face many decisions. Mortgage loan decisions include what type of loan you want: an adjustable rate mortgage or a fixed rate mortgage. In addition you can choose whether to lock your loan rate right away or to float the rate. When you apply for a mortgage you can also think about paying points to reduce the interest rate on the loan.
Homeowners: Best Time To Refinance Mortgage
There are several indicators that help homeowners decide that it's the best time to refinance their mortgage. When interest rates drop low is one of the best times for homeowners to refinance their mortgage. Just because homeowners have bad credit doesn't mean they can't refinance their mortgage but they might have limited options.