If and when you take out a mortgage, youâll be faced with an important choice. To pay or not pay mortgage points. In short, those who pay points should hypothetically secure a lower interest rate than those who do not pay points, all else being equal. Thatâs because mortgage points, at least the ones that [&hellip
The post An Alternative to Paying Mortgage Points 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.
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.
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.
Mortgage Q&A: âWhen to refinance a home mortgage.â With mortgage rates at or near record lows, you may be wondering if now is a good time to refinance. Heck, your neighbors just did and now they’re bragging about their shiny new low rate. The popular 30-year fixed-rate mortgage slipped to 2.80% last week, per Freddie [&hellip
The post When to Refinance a Home Mortgage: Now, Later, or Never? 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.