Refinancing can save you money down the road if done the right way. Our refinancing guides will help you decide if a refinance is right for you, help you choose the right refinancing company, and provide useful information to help you navigate the refinancing process.
Owning a home has many benefits, including the flexibility to use your home’s value to access cash. When homeowners need to borrow money, two popular options are home equity loans and cash-out refinances. While both of these loans let you borrow against the equity you’ve built up in your home, they each work a little…
One of the benefits of being a homeowner is that your home is more than just a place to live. Over time, it can become a powerful financial asset thanks to the home equity you build over time. Home equity is the difference between your home’s worth and what you owe on your mortgage. As…
Between 2020 and 2022, many Americans saw their home equity soar as the median sale price of U.S. homes increased by more than $120,000. If you own a home, that means your equity may have grown, too. And you may be considering different ways to use it, such as remodeling your home or paying off…
Rising home values in 2022 and into 2023 have contributed to overall market volatility and made it more challenging to be a buyer. However, this real estate market has proven to be a boon to many homeowners who are content to stay put. That’s because higher home values mean they have more equity than ever….
Recent trends in the housing market, including increased home prices and values, make cash-out refinancing an exciting option for many Americans looking for money to spend or invest. What is a cash-out loan? With a cash-out refinance, you can get a lump sum of cash for home improvements, renovations, or other needs. It works by…
There are many compelling reasons you might want to refinance your mortgage – to obtain a better interest rate, to shorten the length of the loan term, to switch mortgage types. But to do that, you need to first choose the mortgage refinance lender that’s best for you. The right lender will help you structure…
Understanding the three key factors – income, credit history, and debt-to-income ratio (DTI) – is crucial for mortgage eligibility. Income and credit history are commonly known, while DTI measures the portion of your monthly income allocated to debt payments, significantly influencing your mortgage qualification. It’s essential to grasp DTI, as it directly impacts your financial…
This article will help you understand the ins and outs of a mortgage refinance. It will explain what refinancing means, explore the main types of refinancing options, and cover when it’s a good time to refinance. Finally, it will show how you can calculate whether or not refinancing makes financial sense for you. The post-pandemic…
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