Refinancing

22 Mar 2022

Can I Pay My Home Loan Off Early If I Refinance?

Mortgage

Many people are looking for opportunities to save money on the cost of a mortgage. If you want to save money on your home loan, you might be thinking about refinancing. During the refinance process, you will replace your current home loan with a new mortgage. Some people want to refinance their homes to free up cash for a renovation project, while other people want to pay off their homes sooner. How can you pay off your home loan early through a refinance? Reduce Your Interest Rate During the refinance process, you might qualify for a lower interest rate. There are numerous reasons why you might get a lower interest rate…

09 Mar 2022

By Mortgage Blog Content

How Long Does A Refinance Take?

Mortgage

If you want to save money on your mortgage, refinancing your house could be a great move. As long as you have plenty of equity and a great credit score, you should be able to qualify for the refinance process. At the same time, you might be wondering, how long will it take you to refinance your house? There are several factors to keep in mind, so be sure to work with a professional who can walk you through the process. It Usually Takes A Month Or Two In general, refinancing your home loan will take a month or two. Most refinances will be completed in 30 to 45 days, but…

13 Jan 2022

By Mortgage Blog Content

A Guide to Financing Home Improvements and How Mortgage Refinancing Can Help

Home Mortgage Tips

If you're planning to remodel or renovate your home in the near future - whether to provide a better living environment or as part of a house flip - you'll need to find a way to pay for your home improvements. There are several different possible sources of renovation money, each with their own advantages and disadvantages. One option that is gaining popularity is mortgage refinancing. How does mortgage refinancing work, and how does it compare to other renovation financing options? How can you use a mortgage refinance to get the most out of your renovation? Here's what you need to know. Home Improvement Investments: Which Renovations Generate The Best Returns?…

08 Jul 2021

By Mortgage Blog Content

Refinancing A Mortgage: Is It Too Soon?

Mortgage

Due to the fact that mortgage rates are still hovering near record lows, many homeowners are considering refinancing to a lower interest rate. This is a great way for homeowners to shorten the term of the loan, reduce the size of their monthly payments, and access cash for a home improvement project. On the other hand, there are some situations where it might be too soon to refinance an existing mortgage. What are a few factors to consider? Conventional Home Loans Might Require A Certain Amount Of Equity Homeowners with a conventional loan should reach out to their lender to see what the requirements are on the home loan before refinancing.…

26 Mar 2021

By Mortgage Blog Content

What Are The Most Common Mistakes Homeowners Make When Refinancing?

Mortgage

There are lots of people who are looking to take advantage of low interest rates to refinance their homes. This provides homeowners with an opportunity to save tens of thousands of dollars over the life of the loan. It could also allow homeowners to access equity to finance a home renovation or shave years off their mortgage. On the other hand, there are also a lot of people who make mistakes during the refinancing process. What are some of the mistakes that everyone should make sure they avoid? Avoid Saying Yes To Loan Forbearance On A Mortgage First, try to avoid mortgage forbearance if you can. If homeowners decide to pursue…

12 Jan 2021

By Mortgage Blog Content

Should I Shorten My Mortgage Term, Important Factors To Consider

Home Buyer Tips

When you first bought your home a few years ago, perhaps you started off with a 30 year mortgage. Now, you are considering refinancing and changing it to a 20 year or even a 15 year mortgage. Shortening your mortgage term and refinancing can be a smart financial move, but before you make this decision there are a number of factors that you should consider. Switching to a shorter mortgage will mean that your monthly payments will be higher, but you will be 100% paid off much sooner and you will save thousands of dollars in interest rates. Here are a few of the factors to consider before making this decision:…