You have probably heard of refinancing your mortgage as a way to potentially lower your monthly mortgage payments. There is also another possible option called recasting. Recasting your mortgage involves making a lump-sum payment that reduces your mortgage balance and leads to a lower monthly payment. Advantages of recasting a mortgage is that it can …
Who Can Receive Down Payment Assistance? While many down payment assistance programs are often paired with loan options for first-time homebuyers, this is not always the case, as some programs may be used by previous homeowners or even towards refinancing your current home. There also may be programs available in your area for professions such …
How Do Down Payment & Closing Cost Assistance Programs Work? Read More »
Home inspections give you the opportunity to have the home thoroughly examined by a professional before you spend any money to purchase it. Paying for a home inspection can be well worth it both for peace of mind and the potential cost of trouble avoided. What can you expect during your home inspection? Your home inspector’s …
Rates have hit an all-time low and have left homeowners scrambling to refinance their mortgages. You have most likely heard in casual conversations with friends or family that “now is the time to refinance!” But you may be left wondering…what exactly is refinancing? Is it the right decision for me? What Is It? Refinancing is …
Refinancing your FHA loan to a conventional mortgage may clear room in your monthly budget, especially with interest rates hovering at historic lows. Removing FHA monthly mortgage insurance, it could result in a lower monthly payment and big savings. FHA Mortgage Insurance By refinancing your FHA mortgage to a conventional mortgage, you may be able …
Have You Heard? Refinance and Remove FHA Mortgage Insurance Read More »
Refinancing is a big step and takes the same time and effort as when you applied for your loan in the first place. However, when the time is right, there are many benefits to refinancing. Setting a goal beforehand is always a good place to start. Whether you decide you want to take equity out …