What does the refinancing process look like? The process of refinancing your mortgage will be similar to when you first applied. First, you should obtain quotes from lenders and see what you prequalify for. Once you’ve determined that refinancing is an option you’d like to pursue, you’ll… Read Full Article Share FacebookTwitterLinkedIn
When does it make sense to refinance? There are many reasons to consider refinancing, including: · Your credit has improved, meaning you may be able to get a better rate even if rates haven’t gone down · You want to take advantage of low interest rates · … Read Full Article Share FacebookTwitterLinkedIn
What is refinancing? Refinancing is when a homeowner takes out a new home loan to replace their existing one. The new loan then pays off the initial mortgage loan. Read Full Article Share FacebookTwitterLinkedIn
Is there anything I should keep in mind after closing? Closing on a home mortgage loan is a big deal. This might also be a good time to begin (or continue) planning for the future by creating a financial planning checklist. Have you thought about life insurance, creating a trust,… Read Full Article Share FacebookTwitterLinkedIn
Can you switch mortgage lenders before closing? You deserve the best, and you have a right to switch brokers or lenders at any point before closing on your loan. You may want to switch due to lower interest rates, unexpected fees, a timeline that doesn’t suit yours,… Read Full Article Share FacebookTwitterLinkedIn
How much should I expect to pay in closing costs? Home buyers typically pay an average of 2 to 5 percent of the purchase price of their home in the closing process. These final costs are going to be determined by your loan amount, mortgage option, type of property, and… Read Full Article Share FacebookTwitterLinkedIn