You own a home, you have a mortgage and you know that, after some time, you’re supposed to consider refinancing that mortgage. At least that’s what friends and neighbors are doing. But what exactly does it mean to refinance? And why should you do it? You’d be hard-pressed to find a clear-cut answer to those [...]
In June, the National Association of Realtors saw the median existing-home price for all housing types hit a new all-time high. Sales, however, continued to decline — they're down 2.2% from a year ago. This discrepancy between prices and sales is a clear reminder that we're in the midst of an inventory shortage and affordability [...]
Most homeowners assume that if they’re going to refinance, it needs to be at a lower rate than they’re currently paying. But in reality, rates fluctuate often — and financial situations change just as much. In many cases, refinancing is the best (or only) option, even if it means paying slightly more in interest for [...]
If you’ve been in your off-base home for more than a few years, you may want to look into refinancing. In many cases, refinancing can lower your monthly payments, shorten your loan term, give you funds to use toward upgrading your home (or cover other expenses) or all of the above. But when do you [...]
Whether you’re renovating to add convenience, improve your home’s aesthetic, or increase its overall value, one thing’s for certain: VA refinancing can help make it happen. Rather than scrimping and saving, pulling money from your 401K, or cutting corners and DIYing it, a VA refinance can tap your existing home equity to give you cold, [...]
For most of us, our mortgage payment is the biggest monthly bill we pay. The best part of that payment is that it builds equity that can be used to improve your financial situation. It's what separates your mortgage payment from a car loan and credit card bills. So, when those monthly bills begin to [...]
Whether your credit card balances have gotten out of hand or you’re just tired of tracking 15 different bills and payments every month, debt consolidation can be a great option—saving you both money and hassle over the long term. Put simply, debt consolidation allows you to roll all of your debts (everything from medical bills [...]
A VA refinance loan can be a great option for qualified veterans, military personnel, and their spouses. Whether you're looking to refinance for a lower interest rate, a shorter payment term, or to take cash out, as a veteran you have a number of options to lower monthly payments, consolidate debt, or find the cash [...]
A homeowner may choose to refinance their mortgage for a number of reasons, including to: Obtain a lower interest rate, lower their monthly payment, and save over the life of the loan Switch from an adjustable rate mortgage to a fixed rate mortgage to avoid rate increases Consolidate debt (like credit cards or auto loans) [...]
For the past 25 years, declining interest rate refinancing has been an ideal way for homeowners to access the equity in their homes. As rates went down, homeowners were able to refinance to consolidate high interest credit cards, auto loans, and other debt—lowering monthly payments and improving their cashflow. Homeowners took advantage of cash out [...]
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