November Refinance News & Articles
Refinancing allows mobile home owners the ability to save money, pay down bills, and make improvements to their home. By changing the terms of their loan to better accommodate their current financial situation and take advantage of mobile home refinance rates, a home owner can continue to enjoy their living situation without paying unnecessary fees or high interest rates.
Mortgage rates are low, so refinancing is particularly attractive for owners of investment properties. However, to get the most out of refinancing, it is beneficial to investigate rates.
Many homeowners do not have the luxury of considering refinancing as just an option available to them. For some it is a downright necessity, such as to avoid foreclosure. And it is generally those very homeowners for whom refinancing is most necessary that resources for accomplishing that end are least available.
If you have purchased an older home that you are now hoping to improve upon through money taken out in a refinancing, then you might be an ideal candidate for a renovation refinance loan. If you wish to sell your home someday, but right now it requires several important renovations in order to command the selling price you need or desire
Fannie Mae Refi Plus (also known as Fannie Mae Refinance Plus and FNMA Refi Plus) is the HARP or Home Affordable Refinance Program offered through Fannie Mae, or the Federal National Mortgage Association.
Individuals that have a bankruptcy on their credit history may feel that refinance after bankruptcy is impossible. While refinancing after bankruptcy does present a handful of additional obstacles, it is still a viable option.
The financial terms of ‘no closing cost refinance’ and ‘no fee mortgage refinance’ refer to a policy where a lender pays fees, such as the appraisal fee, the underwriting fee, escrow and title fees, and other assorted processing fees, in lieu of the borrower paying these fees.
There are many factors to consider when deciding whether or not to refinance a mortgage. Before making your decision, you need to consider refinance points. Mortgage refinancing points can be used to produce more favorable terms for your new home loan. In order to make the right decision, educate yourself about what refinance mortgage points are and how they are used; the following information can help.
Since no federal laws restrict the frequency of refinancing, one possible answer to “How soon can I refinance?” is “While the ink is still drying on your last contract.”
With financial markets fluctuating constantly, it can be hard to know when it is a good time to refinance. In some cases, a homeowner can throw some numbers into an ‘Is it worth refinancing calculator’. However, it is still best for a homeowner to understand how it works in order to make his own decisions regarding the best time to refinance the mortgage.
Just as with a purchase mortgage, in a refinance mortgage a borrower may be required to pay points as part of the closing costs of the refinance loan. Alternatively, the option to pay points or not to pay points could be left to the borrower to decide, with advantages and disadvantages to each. One “point” is equals one percent of the total refinance mortgage amount.
One of the newest options under the Obama Administration’s new Making Homes Affordable program is the 25 year mortgage refinance. Standard home loans typically consist of 30-year adjustable rate mortgages, but these can be tricky. Most popular when mortgage rates were high and expected to drop, these pay-off plans now tend to pale compared to the 25 year mortgage option.