The HELOC loan is one of the most cherished and powerful financial tools for homeowners in the United States. In 2023 mortgage rates are nearly double what they were three years ago which makes the home equity line of credit, also known as a HELOC the best opportunity for homeowners to get quick access to… Read More »
Navigating the path to get approved for a home equity loan with bad credit can be challenging. The RefiGuide has a network of home equity lenders that offer bad credit HELOCs and equity loans for people with poor credit scores. Qualifying for a poor credit home equity loan requires the applicant to get organized and… Read More »
Are you considering a refinance of your mortgage? Interest rates rose significantly this year but could drop in 2024, so now may be the time to apply for a refinance mortgage. If you are considering a home refinance, you will want to save as much money as you can to make the process worth it.… Read More »
People who own their home frequently are watching mortgage rates to determine if now is a good time to refinance their home loan. Whenever you refinance, you always are taking a bit of a gamble because it is hard to say what rates will be tomorrow, let alone next month or next year. When considering… Read More »
Refinancing your mortgage is usually a great way to save money on your bills every month. And these days, mortgage rates are still in the area of 3%, so many people find that they can lower their mortgage payment by refinancing. Over the last thirty years, the rate and term refinance has been the most… Read More »
America has been moving into a longer term higher interest rate environment. You may have noticed a lot of advertisements for hybrid loans like the 3/1 and 5/1 ARM mortgage. In 2020, we saw mortgage rates fall below 4% and stay there, with rates dipping to the 3.125% range for a fixed rate, 30-year note.… Read More »
Consolidating debt with a mortgage featuring a fixed interest rate is a wise move and a hedge against inflation. For years, many Americans have decided to save on their credit card bills and other debts by refinancing their mortgage and pulling out equity. For decades Americans have turned to the mortgage in an effort to… Read More »
VA home loans are highly regarded and not out of reach if you meet the VA loan qualifications. Are you active or retired military? You may be able to qualify for a Veteran’s Administration financing, also known as the VA home loan. For borrowers who are or were in the US military, VA home loans… Read More »
Most military members and retired veterans know about the VA military home loan guarantee with 100% financing, low interest rate and no mortgage insurance. The VA home loan can be a great deal for many veterans and active military. Does Everyone Qualify for a Military Home Loan? You qualify for a VA military loan if… Read More »
Homeowners and loan officers know how important calculating Loan to Value, or LTV, when applying for a refinance mortgage. Your credit could be excellent but if your do not meet the LTV requirements for a mortgage refinance then you will be turned down. In a home refinance transaction, the Loan to Value (LTV) is just… Read More »
Homeowners always like to save on their utility bills, and there are several tax breaks that are available for people who have installed solar panels on their homes. Reducing monthly energy expenses, finding tax credits and helping the world with a smaller foot-print is a wonderful opportunity. In 2023, the federal spending bill that was… Read More »
Home prices remained high in 2023, and loan limits continue to keep pace. FHA 2023 conforming loan limits are almost as high as jumbo loans, and this could be the policy for the foreseeable future. After all, home prices don’t seem to be anywhere close to falling soon. What Are the NEW 2023 FHA Loan… Read More »
Home mortgage refinance rates have been surging higher in 2023. If you can refinance your mortgage and save at least .5% on the rate, it can be a way to save you big bucks in interest and payments over the years. But the decision to refinance should be carefully weighed. Below are five reasons you… Read More »
It is exciting to have a home built just for you. But most people are unfamiliar with owner builder construction loans. Mortgage loans for new construction are a different animal, and if you want to build your home, it is smart to learn about this unique mortgage process. With the housing market continuing to surge,… Read More »
Today homeowners looking for cash out have a choice to refinance or take out a home equity loan in an effort to leverage the equity in their home for money. Let’s explore the pros and cons of a cash out refinance versus home equity loans. In most cases, when the interest rate trend is upward,… Read More »
One of the most popular aspects of owning a home is to pull out money in a cash out refinance mortgage for major purchases. You can do whatever you like with the money, but the most popular uses of equity include paying for college, home renovations, and buying investment property. 2024 is looking like a… Read More »
Many people who want to get a mortgage may not know they can use rental income to sometimes qualify for the loan. This can apply to a property you currently own and rent as well as a property you are planning to buy and rent. Below is more information about how VRBO rental income works… Read More »
Homeowners all over the country want to know if home equity loans are tax deductible. The tax deductibility of HELOC and home equity loan interest has been a hot debate between loan officers, lenders and borrowers in recent years. As house values rise, more and more consumers have started asking me questions about home equity… Read More »
Taking out a second mortgage can be a very useful tool to increase your wealth if it is managed properly. The second mortgage programs have expanded to offer fixed rate home equity loans and revolving HELOC lines of credit. There are many reasons that homeowners take out second mortgage loans and cash out mortgages, and… Read More »
Not all banks and loan companies offer 2nd mortgages, so we suggest finding second mortgage lenders and brokers that specialize in this unique niche market of subordinate financing. Try walking into your favorite bank or neighborhood credit union and obtaining a low rate home equity loan, cash out refinance or credit line with average homeowner… Read More »
Second mortgage loans provide cash out opportunities to homeowners with all credit types. With rising interest rates being the trend, more and more homeowners have turned to the second mortgage to help refinance debt, finance home renovations and more. Home owners who meet the lending criteria may be able to get second mortgages if they… Read More »
For several decades the FHA cash-out refinance program has helped millions of Americans with affordable refinancing with cash out opportunities that do not require as much equity as most conventional mortgages. Do you want to refinance your FHA loan into a lower rate and get cash out? How about pulling out some money to finance… Read More »
Even with higher interest rates, Texas first time home buyer rates continue to soar. First-time homebuyer grants in Texas can be a game-changer for those looking to buy their first home. Like the rest of the country, the housing market in Texas has experienced a roller-coaster ride in 2023 because of the inflation and rising… Read More »
A mortgage refinance can help you to lower your rate and monthly payment, even if you have low credit scores, poor payment history, or simply upside down on your conventional mortgage loan. It also can get you cash to do renovations on your home if you want to do a cash out refinance. However, some… Read More »
Are you thinking about getting home equity loans or credit lines and want to know what the credit score requirements and lending guidelines to get the best equity loans in 2023? The popularity of home equity loans is surging because homeowners want to efficiently finance home improvements, investments, debt consolidation, education, medical bills and more.… Read More »
Second home mortgage loans have different rules, requirements and rates for most borrowers looking to refinance their second house, vacation home or investment property. For people who are lucky enough to have a second home, you will always have some unique challenges. One of the issues that can come up at some point is refinancing… Read More »
Potential home buyers who want to get a manufactured home often wonder how easy it will be to get financing for these properties. While home loans for manufactured houses are not as plentiful as regular homes, there are still some options available, including from government backed home loan programs such as FHA. Most people are… Read More »
The values of Americans’ homes are rising with the average increase approximately 7% more than last year. Some parts of the country are seeing double digit increases in value. If you want to sell your home soon, you may want to do some smart remodeling to increase your equity and property value. There are many… Read More »
Refinancing your current mortgage can drop your monthly payment and interest rate. But with every new loan come closing costs. Is it always worth it? Let’s take a look at the numbers in the various refinance scenarios and see. Lets find out if the cost to refinance a home mortgage will continue to rise in… Read More »
Portfolio loans are a versatile and flexible mortgage option for borrowers who don’t fit neatly within the confines of conventional loan requirements. These portfolio loan options open up opportunities for financing unique properties and accommodating non-standard financial situations. It’s important to note that while portfolio loans offer more flexibility, each private lender has its own… Read More »
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