A lot of homeowners are looking to refinance their mortgages at the moment. Thatâs abundantly clear based on the record volume of refis expected this year, per the MBA. And while mortgage rates are in record low territory, thus making the decision to refinance an easy one for most, it still pays to shop around. [&hellip
The post If a Mortgage Lender Reaches Out to You, Reach Out to Other Lenders first appeared on The Truth About Mortgage.
Mortgage Q&A: âWhat is a streamline refinance?â While qualifying for a mortgage refinance is generally a lot harder than it has been in the past (now that lenders actually care how your home loan performs), there are less cumbersome options available. In fact, many lenders offer âstreamlinedâ alternatives to existing homeowners to lower costs and [&hellip
The post What Is a Streamline Refinance? first appeared on The Truth About Mortgage.
What Iâve seen and heard through the years is certain lenders not being so forthcoming with existing customers wanting to refinance their mortgage. For example, when a homeowner goes to inquire about the âawesome low rates,â their first instinct may be to pick up the phone and call the lender who gave them their current [&hellip
The post Donât Let Your Current Lender Talk You Out of a Mortgage Refinance first appeared on The Truth About Mortgage.
Everyone likes a discount, right, even if itâs on a small one-time purchase that equates to a nominal amount. For one reason or another, it just feels like a win. Itâs obviously even sweeter if you get a discount on a big-ticket item, as the savings will be much larger. Better yet, how about a [&hellip
The post 10 Mortgage Lenders to Consider for the Best Mortgage Rates (and Fees!) first appeared on The Truth About Mortgage.
While the recent stock market boom, coupled with near-record low mortgage rates will undoubtedly make prospective home buyers feel richer, lofty asking prices may have the complete opposite effect. Regardless of what happens to the economy this year, chances are that those who are planning to buy a home will, assuming they can find one [&hellip
The post 12 Home Selling Tips for 2021 first appeared on The Truth About Mortgage.
Mortgage Q&A: âWhy are refinance rates higher?â If youâve been comparing mortgage rates lately in an effort to save some money on your home loan, you may have noticed that refinance rates are higher than purchase loan rates. This seems to be the case for a lot of big banks out there, including Chase, Citi, [&hellip
The post Why Are Refinance Rates Higher? first appeared on The Truth About Mortgage.
Mortgage Q&A: âHow to get a wholesale mortgage rate?â Wholesale mortgage rates tend to be considerably cheaper than their retail counterparts, though it’s never a guarantee with so many lenders out there these days. To get your hands on one, you need to shop for your home loan with a mortgage broker, who has access [&hellip
The post How to Get a Wholesale Mortgage Rate first appeared on The Truth About Mortgage.
With mortgage rates at or near all-time record lows, youâve likely pondered a refinance if youâre an existing homeowner. But you probably have a lot of questions too, especially if itâs your first time refinancing a home loan. Letâs clear up some of the confusion by tackling some of the most common refinance questions out [&hellip
The post The Top 15 Refinance Questions Answered first appeared on The Truth About Mortgage.
Mortgage Q&A: âDoes a refinance require an appraisal?â A reader recently asked if they needed an appraisal to refinance their existing mortgage, knowing they can often add weeks to the loan process. As with anything in the mortgage realm, the answer is it depends. Mainly, it depends on the type of loan you plan to [&hellip
The post Does a Refinance Require an Appraisal? first appeared on The Truth About Mortgage.
I thought it would be helpful to create a post that answers a lot of top “mortgage questions” that consumers tend to ask in one convenient place. You should know the answers to all of these questions if you’re serious about getting a mortgage and ready to buy a home. Additionally, you might be better [&hellip
The post 21 Mortgage Questions You Should Know the Answer To first appeared on The Truth About Mortgage.