2025 Could Be the Year of the Rate and Term Refinance
So far, 2025 is shaping up to be a bit better when it comes to mortgage rates. While the 30-year fixed is only slightly below… Read More »2025 Could Be the Year of the Rate and Term Refinance
Refinance
Everything you’ve ever wanted to know about refinancing a mortgage, which is essentially replacing your dusty old home loan with a brand new shiny one.
There are many reasons to refinance a mortgage, but it usually boils down to wanting a lower interest rate or the desire to tap home equity.
Those who simply want a lower rate (or a different loan program) go with a rate and term refinance.
And those who want to tap equity go with a cash out refinance, which can also result in a lower mortgage rate if the timing is right!
There is also the streamline refinance, which makes it easier to refinance your home loan thanks to fewer paperwork requirements, even if your property value has declined.
I’ve also written a thorough article on the the mortgage refinance process, step-by-step, which is a must-read as well.
Check out those in-depth articles or browse the latest refinance-related posts below to learn more about the process!
Locking vs. Floating Your Mortgage Rate: Which Is Better and Why?
To mortgage folks across the country, it’s an age-old question: “Lock or float?” It’s a question loan officers and mortgage brokers get asked on a… Read More »Locking vs. Floating Your Mortgage Rate: Which Is Better and Why?
Is It Better to Refinance with Your Current Mortgage Lender?
If you already have a mortgage, you might be curious about refinancing, and more specifically if you have to use your original lender. Or if… Read More »Is It Better to Refinance with Your Current Mortgage Lender?
What Is a Cash-In Refinance? Lower Your Loan Balance and Your Mortgage Rate
If you’re currently the proud owner of a mortgage, you’ve undoubtedly heard of a cash-out refinance, one that allows you to tap into your home… Read More »What Is a Cash-In Refinance? Lower Your Loan Balance and Your Mortgage Rate
Lender Credits: The Opposite of Paying Points on Your Mortgage
Mortgage Q&A: “What is a lender credit?” If you’ve been shopping mortgage rates, whether for a new home purchase or a refinance, you’ve likely come… Read More »Lender Credits: The Opposite of Paying Points on Your Mortgage
Larger Loan Amounts Require Smaller Mortgage Rate Decreases for a Refinance to Pencil
While 2025 offers some hope mortgage rates will move lower, that’s still very much up in the air. There are renewed worries that inflation could… Read More »Larger Loan Amounts Require Smaller Mortgage Rate Decreases for a Refinance to Pencil
Why You Might Want to Steer Clear of a Cash Out Refinance Right Now
It’s no secret that mortgage rates aren’t cheap anymore. In the first quarter of 2022, you could still get a 30-year fixed in the 3%… Read More »Why You Might Want to Steer Clear of a Cash Out Refinance Right Now
A Temporary Buydown Could Make Sense While Mortgage Rates Continue to Fall
Last week, I argued that mortgage rates remain in a downward trend, despite some pullback lately. The 30-year fixed had almost been sub-6% when the… Read More »A Temporary Buydown Could Make Sense While Mortgage Rates Continue to Fall
Five Million Refinances Hinge on Mortgage Rates Falling Back to 5.5%
In the mortgage rate world, it’s sometimes a game of inches. This can be true for both prospective home buyers and existing homeowners looking for… Read More »Five Million Refinances Hinge on Mortgage Rates Falling Back to 5.5%
The Other Reason You Should Shop Around for Your Mortgage
I know, I know, mortgage shopping is the worst. It’s not a fun thing to do. It’s not like shopping for a new car or… Read More »The Other Reason You Should Shop Around for Your Mortgage