Refinance September 28 2017

4 Refinancing Myths BUSTED

You may have heard that refinancing could save homeowners thousands —so why are so many hesitant to see if they qualify?! There are common misconceptions about refinancing that tend to steer possible homeowners away. Consider these 4 myths about refinancing and why they should be kicked to the curb.

Myth 1: You Missed the Chance

You may have heard how the Fed is raising interest rates making you wonder if you’ve missed your chance to refinance—but don’t worry! As long as you’re clear on the costs associated with refinancing and confirm that the transaction will lower your monthly payments, refinancing can still be a great move.

Myth 2: You Won’t Qualify

Following the housing crisis in 2008, many lenders did tighten up their guidelines for mortgages. However, as the market improves, there are more opportunities for those with credit issues. The best way to find out is to talk to an expert, contact a Loan Officer to see if you qualify.

Myth 3: You Need 20% Equity in Your Current Home

Yes, lenders typically like homeowners to have 20% equity before refinancing, but there are options for those who don’t! According to Fox Business, the Federal Home Affordable Refinance Program is specifically designed to help homeowners with little to no equity. If you are a Veteran, you may also have options in getting a refinance with less than 20% in equity. You won’t know your options unless you ask.

Myth 4: Refinances are Costly

While there are costs that come with refinancing your mortgage, by the time you adopt lower interest rates and monthly payments those additional costs should be covered by the money you save down the road! Read our guide to the do’s and don’ts when refinancing and look into different refinance methods to find out what makes the most sense for your unique financial situation.  

Curious if a mortgage refinance is right for you?

Speak to a Loan Officer today!

Sources: www.realtor.com www.foxbusiness.com

Search Results for query

October 26 2018

3 Reasons to Invest in Real Estate

Increasingly, Americans are choosing to invest in real estate instead of stocks, bonds, or mutual funds. From 2000 to 2016, real estate outperformed the stock market at a ratio of about 2-to-1. For three years in a row, Bankrate found more U.S. adults feel...

Read More

October 22 2018

What Does a Realtor Do?

Ever wonder about the difference between a real estate agent and a realtor? They’re the same, right? Not so. Working with a real estate agent can take a lot of time and stress out of the home buying process, but not all real estate agents are the same....

Read More

October 19 2018

Your Final Walk-Through Checklist

By the time you get to the final walk-through step of buying a home, you may be a dangerous combination of excited and exhausted. You’ve negotiated the perfect price, had the home inspected and requested repairs. You’re ready to move in! But a lot...

Read More

October 17 2018

7 Tips to Buying in a Hot Housing Market

Buying a home can be overwhelming under any circumstances, but especially in a hot housing market. Home prices go up, and the number of homes available goes down. With emotions and stress running high, you may be pressured into making a purchase you’ll...

Read More

October 15 2018

Finding the Perfect Neighborhood

Amid the excitement of hunting for the perfect house for you and your family, don’t forget to pay attention to your surroundings. It doesn’t matter how perfect your chosen house is — disliking the neighborhood can make your living situation...

Read More

October 12 2018

5 Common First-Time Homebuyer Mistakes

You’ve scrimped and saved for years—dreaming about owning your first home. Now it’s time to make one of the largest purchases of your life. Are you ready? Have you done all of your research? Almost half of Americans have some regrets about the...

Read More

October 09 2018

What’s Scarier Than Bad Credit? No Credit!

Many may pride themselves on having zero debt, but is it really the best for their financial future? Not as much as you may think. Having no or little credit can make large purchases and future milestones more challenging to achieve. The good news is,...

Read More

September 28 2018

Best New Upgrade Trends for Your Home

Sometimes your home needs a little renovating in order to maximize comfort and livability. Here are several ways to upgrade your home on any budget or scale! 

Read More

September 20 2018

Terms to Watch for in a Purchase Contract

Every home sale starts with a home purchase agreement—a legally binding contract signed by homebuyers and sellers that confirms that they agree upon a certain purchase price, closing date, and other terms. While the forms and wording vary from state to...

Read More

12345Last

Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator

Payment
Calculator

Affordability Calculator

affordability calculator

Affordability
Calculator

Refinance Calculator

refinance calculator

Refinance
Calculator

The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?