January Refinance News & Articles
VA Streamline Refinance Rates
The VA streamline refinance program, also known as the IRRRL, is designed for veterans who have a VA loan and want it refinanced to reduce their interest rates. Many veterans are taking advantage of the IRRRL (Interest Rate Reduction Refinancing Loan), which when implemented, the interest payable on the new loan becomes less than that on the current loan.
Interest Only Refinance Mortgage Rates
Interest only home mortgages provide an attractive option for many borrowers because they allow flexibility and help to reduce monthly payment amounts. The best interest only refinance loans offer an opportunity for many homeowners to reduce their mortgage obligations and to consolidate existing loans on the property.
How to Navigate a Wells Fargo Mortgage Refinance
Wells Fargo, one of the major mortgage lenders in the Western states, offers loan modification and refinancing programs very similar to those offered by Fannie Mae and Freddie Mac. The bank is taking part in the FHA’s Making Homes Affordable program, designed to help keep homeowners afloat in a market where home values are rapidly declining.
Refinance a HELOC
Buying a home is a dream for people of all ages and backgrounds. However, property is a hefty investment. This is why loans are usually used to make such a purchase. One loan option is a home equity line of credit (HELOC).
Refinancing Underwater Home Loans
Once the bubble burst in the US housing market, many homeowners found that they were living in a home that wasn’t worth as much as their current mortgage. While this situation is not new, it has recently reached epidemic proportions.
20 Year Mortgage Refinance Rates
Recent economic conditions have motivated many mortgage borrowers to consider the 20 year mortgage as an alternative to 15, 25 and 30 year loans. For many borrowers, the current 20 year mortgage refinance rates are low enough to ensure that monthly payments remain affordable.