Archive for 'Mortgage Refinancing'
Can I still get an interest only loan?
Interest only loans are still available but they are harder to find when buying or refinancing a home. Although an interest only loan does come with a few benefits, there are also several caveats to watch out for. Before you jump on the interest only loan bandwagon, it is important to understand the full scope [...]
Is a jumbo loan eligible for a loan modification?
While getting a jumbo loan modification is not as easy or common as modifying a basic loan, it is still possible. With the collapse of the housing market, many jumbo loans are likely to be upside down, meaning that the borrower owes more than the house is worth. This situation puts these loans at a [...]
Can a mortgage lender ask for my tax returns?
Due to the recent housing crisis, mortgage lenders are now examining individual’s creditworthiness more carefully than ever before. This means that lenders request a lot of personal and financial information from potential borrowers, including tax returns. A mortgage lender is well within their rights to request that you provide them with your tax returns. In [...]
What is a No-Cost Mortgage Refinance?
You may have heard of a “no-cost” mortgage refinance. While the advertisements for these products are enticing, they may not be giving you the full story. The Truth about a No Cost Mortgage Refinance In reality, there is no such thing as a true “no-cost” mortgage refinance. Any mortgage refinance will have fees for document [...]
What types of Mortgage Refinancing Programs are available?
With mortgage rates at historic lows, many people are considering refinancing their existing mortgage, especially if they originally obtained the loan at a higher interest rate. It is true that mortgage refinancing will lower your monthly payments in many cases and (with careful planning) you can take advantage of the new loan refinancing programs to [...]
How much does it cost to refinance a mortgage?
If you are considering mortgage refinancing then you are probably thinking about savings from a lower interest rate and payments. What you may not be considering is how much you will spend to get that lower mortgage interest rate. Mortgage refinance companies have developed many techniques to downplay the costs of refinancing by flashing incredibly [...]
