How much does it cost to refinance?
July 7, 2021
It typically costs between 2% and 5% of the amount you’re borrowing to cover the closing costs of your refinance.
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Today’s interest rates are some of the lowest in U.S. history. And, there are powerful programs that allow homeowners to refinance underwater homes, sometimes with very little documentation. Take advantage of this great opportunity to refinance your home with a HARP refinance, FHA streamline, VA streamline, USDA streamline, or reverse mortgage.
How soon can you refinance?
July 7, 2021
You may be surprised by the speed with which you can refinance a mortgage after you bought your home or did your last home refinance. It can be a matter […]
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No-Closing-Cost Refinance: The Complete Guide
May 19, 2021
A no closing cost refinance allows you to refinance a mortgage without paying closing costs at the time of closing.
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Cash Out Refinance · Refinance
5 Things to Consider Before Your Cash-out Refinance Application
May 13, 2021
On the surface, applying for a cash-out refinance mortgage sounds like a no-brainer. You may be able to lower your interest rate, plus you walk away with some cash. But, […]
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Freddie Mac Enhanced Relief Refinance (FMERR) Guidelines for 2022
March 26, 2021
What is FMERR? If you’ve never heard of a Freddie Mac Enhanced Relief Refinance — a “FMERR” loan — you’re not alone. Available to homeowners since the beginning of the […]
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Cash Out Refinance · Refinance · Understanding Mortgages
What is a Cash Out Refinance?
March 10, 2021
A cash out refinance can put money in your pocket or pay off big debts. Here are some guidelines and things to think about before opening a cash out loan.
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Cash Out Refinance vs HELOC: What’s the difference?
March 10, 2021
A cash out refinance or HELOC (home equity line of credit) lets you turn some of your “equity” into cash. But when you’re choosing between them, you’ll need to consider the specifics of your financial situation.
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How Long Does a Refinance Take?
March 9, 2021
Refinances typically require 30-45 days from start to finish.
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Ask Tim · FHA Loans · News · Refinance
Can I Use an FHA Refinance to Remove a Borrower?
February 12, 2021
The FHA streamline refinance allows borrowers to reduce their rate with no pay stubs, no W2s, and no appraisal. But is an FHA streamline possible while simultaneously removing a borrower […]
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FHA Cash-Out Refinance: Access Your Home Equity
January 5, 2021
Editor’s note: Starting September 1, 2019, HUD, the administrator of FHA loans, reduced the maximum FHA cash-out refinance loan-to-value to 80%, down from 85%. What is an FHA cash-out refinance? […]
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Tim Lucas
Mortgage expert Tim Lucas has been helping home owners for over 12 years.
