Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
You may have found this site searching for information on current FHA rates. Finding out about government programs to refinance your home can be confusing, especially if you don’t know where to start. FHA programs are government insured loans; there are no set FHA mortgage rates…finding an accurate ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
The Good Faith Estimate is an important and frequently misunderstood document you will encounter whenever applying for a mortgage loan. What is a Good Faith Estimate and what is it really good for?
Good Faith Estimate (GFE) is a mortgage disclosure that lists all estimated charges and fees associated with your ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
The mortgage industry has a dirty little secret that according to the Secretary of Housing and Urban Development will cost homeowners in the United States sixteen billion dollars this year alone. If you haven’t learned how to avoid this dirty mortgage secret you’re already paying too much. Here ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
A time for many people to start thinking about mortgage refinancing is when they are headed for foreclosure. Many people get into trouble because they are not able to keep up with their payments; the payment is either larger than they anticipated or their finances have taken a turn ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
Mortgage refinancing is the process of paying off your current home loan with the proceeds of a new mortgage while using your property as loan collateral. There are a number of advantages to refinancing and when done properly can keep you squarely on the road to financial success. ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
If you’re considering talking out a new mortgage to refinance your existing home loan, the Internet is an excellent tool to shop around for the best loan rate. You can use the Internet to easily compare mortgage rates without having your credit pulled.
Most online applications ask ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
Junk fees will not be a percentage of your loan amount but will show up as itemized charges ranging from $50 to $1,000 on your Good Faith Estimate and HUD-1 statement.
These fees are mostly invented by your mortgage broker and vary from one shady broker to the next. ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
Getting a lower mortgage rate is one of the main reasons people choose to refinance their home loans. If you are a homeowner with good credit you will not have any difficulty refinancing your home mortgage loan.
On the other hand, if you have less than perfect credit ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
Mortgage Insurance, also known as Private Mortgage Insurance (PMI) can add hundreds of dollars to your monthly payment amount with no benefit to you, the homeowner. Here are the basics you need to know about mortgage inurance whether you are purchasing your home or refinancing an existing loan.
Mortgage Insurance is ...
Posted by How to Refinance | "Avoid the Traps, Get Expert Advice" on Oct 6th, 2008
When you take out a mortgage the appraisal is part of the package sent to underwriting at your lender. It doesn’t matter if the mortgage is to purchase your home or to refinance, you must have a recent appraisal in order for the lender to approve your home loan.
Your ...