Tagged : refinance

Found 8 blog entries tagged as "refinance".

houserainbow_anthonycz_450Underwater on your mortgage and still haven’t refinanced? Here are some lender tips on refinancing through HARP, a government-backed program to help underwater homeowners lower their monthly payments or lock down a low, fixed-rate mortgage.

Don’t assume you won’t qualify

Do you owe way more on your home than it’s worth? You can still refinance through HARP (the Home Affordable Refinance Program) no matter how underwater you are.

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houseinhand_voronin_450homes.yahoo.com - Underwater on your mortgage and still haven't refinanced? You may think that you missed the window or are not eligible, but with interest rates still near historic lows and an expanded Home Affordable Refinance Program (HARP) it may be within your reach.

While it's true that home prices have risen steadily over the past year and a half, approximately 24 percent of American homeowners are still underwater on their mortgages. This is especially true of those living in areas hardest hit by the housing and economic crisis. The Federal Housing Finance Agency (FHFA) estimates that there are between 1 million and 2 million borrowers eligible for HARP who are underwater are paying above-market interest rates. You could be one of them.

To

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homes.yahoo.com - If you think you may have missed the boat on getting a lower mortgage rate, you may think it's too late to refinance - especially when you see interest rates rising every week.

In fact, according to the Mortgage Bankers Association (MBA), on July 5, 2013, the average interest rate for a 30-year fixed-rate mortgage increased to 4.68 - an increase of .10 percent from June 28th. This is the highest rate since March 2012. 

Though this news may dishearten homeowners who didn't jump at the chance to refinance when rates were at rock bottom, our experts say not to give up on the idea of refinancing just yet.

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When Kellie and Michael May decided to refinance their home in the New York suburbs, they wanted to take advantage of historically low interest rates. But before landing a new 30-year fixed-rate mortgage, they had to get through a home appraisal.

But the appraisal came back roughly $70,000 less than the $1,230,000 the Mays were expecting, and too low to support their new loan.

Here are eight ways you can bolster your appraisal:  MAKE SURE APPRAISER KNOWS YOUR NEIGHBORHOOD, PROVIDE YOUR OWN COMPARABLES, KNOW WHAT ADDS THE MOST VALUE, DOCUMENT YOUR FIX-UPS, TALK UP YOUR TOWN, DISTINGUISH BETWEEN UPSTAIRS AND DOWNSTAIRS, CLEAN UP, GIVE THE APPRAISER SOME SPACE

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info.usmortgage.com - Homeowners who are unfamiliar mortgage refinancing, as well as those who are desperate to change their loan conditions, are too often careless and end up making common mortgage refinancing mistakes. No matter what your situation or your reasons for refinancing, it is your responsibility to do the research and learn about the mortgage refinancing process.

Below are some common mortgage refinancing mistakes and how you can avoid them.

Refinancing Mistake #1: Folding in Closing Costs

Refinancing Mistake #2: Extra-Long Loan Term

Refinancing Mistake #3: Adjustable Mortgage Rates

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money.cnn.com -- Rates on the average 15-year, fixed-rate mortgage hit a new low this week, falling to 2.66%, according to mortgage giant Freddie Mac.

The 15-year is particularly popular with homeowners who want to refinance their old mortgages to a lower rate and pay off their loan more quickly.

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RISMEDIA, Friday, August 17, 2012— Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates following long-term Treasury yields higher. This marks the third straight week of fixed mortgage rates moving higher. 

The survey reported that the 30-year fixed-rate mortgage (FRM) averaged 3.62 percent with an average 0.6 point for the week ending August 16, 2012, up from last week when it averaged 3.59 percent. Last year at this time, the 30-year FRM averaged 4.15 percent. 

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realtytimes.com - Now that headlines out of Europe have calmed down, the focus has been on the economy here in the U.S. Although there are some mixed signals coming out of data reports, investor confidence is evident in the direction that markets are moving. Investors are turning to risky assets that offer dividends which has sent the S&P to a four year high. All mortgage rates, including bank mortgage refinance rates are at risk of increasing now that the economy is showing some signs of improvement.

 

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