How can I refinance my mortgage with bad credit?
By Kathryn Pomroy article
If you have poor credit but want to take advantage of the current low interest rates and refinance your mortgage, make sure first it makes good financial sense, and don’t forget to factor in closing costs and other fees. (iStock)
Bad credit happens. This may be especially true for the thousands of people out of work due to the coronavirus pandemic. Even so, you can refinance your mortgage with bad credit. It may be more challenging, but it’s possible.
The coronavirus pushed interest rates to record lows. Such low rates are the driving force behind the surge in mortgage refinances up 89.54% from last quarter and up 297.3% from just one year ago, according to US Mortgage Originations.
10 questions to ask your mortgage lender before closing
By Kathryn Pomroy article
Buying a home is a big investment, so before you close on your new mortgage or mortgage refinance, it’s important to ask your lender these top 10 questions so you can make the best financial decision possible. (iStock)
Purchasing a new home is exciting, but it s easy to lose sight of the top questions to ask your lender before closing on your loan. It’s important to do your research and get as much information as possible before applying for a new mortgage or refinancing your mortgage so you can make the best possible financial decision.
5 reasons to get a cash-out refinance
By Kathryn Pomroy article
As home equity continues to rise and mortgage rates continue to fall, there are several key situations when a cash-out mortgage refinance makes sense right now. But there are benefits and drawbacks to consider before you take action. (iStock)
Mortgage rates continue to fall as home equity continues to rise. Never before has there been a better time to take advantage of the current economic situation and complete a cash-out mortgage refinance. As of the quarter ending June 2020, mortgage refinance loan values totaled more than $580 billion. That number is up from $306 billion last quarter and more than double ($146 billion) from one year ago, according to U.S. Mortgage Originations.