Homeowners often get a ton of information from various sources about refinancing. Because there are many types of refinances it can be a bit confusing when trying to compare the different loans. This article will serve as a basic guide to explain a refinance mortgage and why a person would consider this financial move. Basics […]
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Should I Refinance My Mortgage?
When mortgage rates drop, current homeowners are faced with the big question “Should I refinance my mortgage?” Learn the top reasons to refinance your home!
FHA Streamline Refinance
The Federal Housing Administration (FHA) does more than offer ways for people to buy a home. They have another program designed to allow homeowners to get a lower interest rate, and hopefully a lower payment, without going through all the normal work associated with a refinance. The program is called the FHA Streamline Refinance and […]
VA Streamline Refinance
The VA home loan is one of the best ways for a qualifying veteran, service member, or surviving spouse of a service member to purchase a home. The fact that they can buy a home without a down payment is great alone, but when you combine the other benefits such as low-interest rates and no […]
High LTV Refinance – Fannie Mae & Freddie Mac
Back in 2009, as the mortgage crisis was slowly ending, many homeowners found themselves in a terrible position; their home was worth much less than their current mortgage balance. To persuade people to stay in their homes and avoid a wave of foreclosures across the country, Fannie Mae and Freddie Mac introduced the HARP plan. […]
VA Refinance
VA Refinance (Non-Streamline) A home loan, or a mortgage, is just like any tangible part of a home; it can be replaced. Appliances get updated or replaced due to improvements in efficiency. Carpeting, paint schemes, furniture and décor are replaced in order to accommodate different needs or to stay current with modern styles. A mortgage can […]
FHA Mortgage Insurance
If you use an FHA (Federal Housing Administration) loan to buy your home, you will have to pay mortgage insurance. Mortgage insurance premiums (MIP) exist to protect lenders when FHA borrowers default on a loan. While home buyers like FHA loans, thanks to their more flexible requirements, the idea of mortgage insurance is an unwelcome extra […]
USDA Rural Housing Refinance
The USDA Rural Housing refinance program is for those that already have a USDA rural development loan in place. Unless your current loan is a Guaranteed Rural Housing loan or a USDA Section 502 Direct loan, you cannot refinance into the program. The USDA Refinance is designed to lower the interest rate on a current USDA […]
Requirements For an FHA Home Loan in Florida
How To Qualify For An FHA Loan in Florida The FHA loan has long been a standard for first-time homebuyers and experienced home buyers alike to purchase a home. There are many reasons why this program continues to be popular among potential homeowners. Here we present some of the basic guidelines of the program for […]
VA Mortgage
VA Mortgage Requirements and Guidelines: A Detailed Look In 1944 the United States Congress introduced the bill that paved the way for the Veterans Administration (also called VA) to officially offer the VA mortgage to veterans. While there have been a few changes and improvements to the lending rules over time, the main intent remains […]