Posts tagged rate

How much should your current interest rate ( existing Mortgage) change, before it makes sense to refinance?

1
1 year ago
by admin in

Question : How much should your current interest rate ( existing Mortgage) change, before it makes sense to refinance? My current rate is 6% for 15 years. I want to re-fi at 5 % for 10 Years (4,500 in closing fees), but I have been paying on this current mortgage for 9 years, so currently I am past paying all interest. So does it make sense to re-fi and start all over gain with several years of just paying interest.? refinance mortgage interest rate

Best answer:

Answer by coolbreeze6% is not bad. I wouldn’t do it just because of the 5 grand out of pocket also you only have 6 years left. More >

Bank refused fixed rate mortgage due to low reserve funds?

4
1 year ago
by admin in

Question : Bank refused fixed rate mortgage due to low reserve funds? A family member was turned down for a mortgage due to low reserve funds. They make plenty of money, credit ratings were fine, and they had the 20 percent down payment. However were told they needed more in their reserve funds in order to get a fixed mortgage or they had to pay 25 percent down? Since when is this required? I have never heard of this. fixed mortgage

Best answer:

Answer by nusias9I never heard of this either.. Reserve funds for the bank itself or for the association (town home, condo, neighborhood)?

banks More >

Should I refinance my loan to a fixed rate?

10
1 year ago
by admin in

Question : Should I refinance my loan to a fixed rate? I have a 488,000 options arms loan that has 2 years left before I refi without pre-payment penalty. As of now the pre-payment penalty is 15,000. Got a quote from my loan agent at 6.125% for a 30-year fixed, no pionts and no cost. Estimate out of pocket $ 3500. I plan to roll the 15,0000 into the refi. Should I bite the bullet and just refi. I estimate that I can save $ 600 from what I pay right now and be able to recoupe the amount in 31 months. I plan to stay in the house for another 5-7 years. Rates look low right now. what should I More >

Which mortgage is best for me: 30 year fixed rate or 5/1 ARM?

1
1 year ago
by admin in

Question : Which mortgage is best for me: 30 year fixed rate or 5/1 ARM? I am looking at borrowing $ 500000 and would like to know how to find the best interest rate for the mortgage. best fixed rate mortgage

Best answer:

Answer by mylesuyemaARM typically will have a lower introductory interest rate. If you definitely plan on selling your home within 5 years, then an ARM would probably be the choice for you.

After the 5 years, however, the rate may jump into double digit percentages, which can be a shocking surprise.

A 30-year fixed rate has the advantage of always knowing you’ll have the More >

Need to Refinance an adjustable rate mortgage with so-so credit?

2
1 year ago
by admin in

Question : Need to Refinance an adjustable rate mortgage with so-so credit? Hi,

My husband and I bought our home 2 years ago on with an adjustable rate mortgage. The interest rate has now come up and we need to refinance.

The problem is that our credit score is about 600.

Can we get a refinance? Our home is worth about $ 240K, we have $ 25K in debt, and we make about $ 140K per year. Thanks Bob,

But we really can’t afford the extra costs. Our payment went from $ 1100 per month to $ 1680 per month.

What would the rate be for a credit score of 600? refinance mortgage interest More >

Can a first mortgage be refinanced to a lower rate if there is also an existing second mortgage?

3
1 year ago
by admin in

Question : Can a first mortgage be refinanced to a lower rate if there is also an existing second mortgage? If a homeowner has a first mortgage and a second mortgage, and would like to refinance the first mortgage at different terms, can this be accomplished – does the existing second mortgage put a monkey-wrench in refinancing the first? refinance second mortgage

Best answer:

Answer by TimNormally you roll them both together. You can get better rates on a 1st than a 2nd.

Home Equity Loan Rate Fluctuation

0
1 year ago
by admin in

Home Equity Loan Rate

may vary considerably throughout the life of the loan that most home equity loans are not fixed. Many offer very low introductory rates, which is directly after the introductory period over, you should be able to understand the periodic cap and lifetime maximum, they are the limits on the interest rate can change during a period and in the life of the loan or . Home equity loan rates may depend on the basis of factors such as credit score, loan amount, credit and value.

Borrowers who do not take do not qualify for financing at a lower rate as the possibility of higher

More >

Mortgage interest mortgage interest rate types and what is the best

0
1 year ago
by admin in

To a layman like me, seems all the financial discourse even more confused. Unfortunately, mortgages are not something we can only do, because to forget at the end of the day, we all must live, and live, we need a place to live, and where mortgages come to Sun: What is a mortgage? A mortgage is a security interest in property by a lender as security for a debt. So what are mortgage interest rates? It is the rate or rates applied for the loan by the debtor to pay. Let’s take a look at the different types of mortgage rates.

The first type is a fixed interest rate. I think a fixed rate mortgage More >

Mortgage refinance loans – the best way, mortgage refinancing rate

0
1 year ago
by admin in

The formula for mortgage refinancing

is simple. If you save more than refinance mortgage loans, they are the refinancing costs, then it will be a basis move.The smart before you is to know if you have a variable or fixed interest rate.

1 The economy moves in interest rates.

If you are thinking about refinancing mortgages, you will notice that the economy moves in interest rates because interest lowers the price for the money, and when asking for money, ie loans, the price well as fall.

The ideal time to refinance mortgages, the economic downturn, when interest rates fell and banks find

More >

Best Offers fixed rate mortgage

0
1 year ago
by admin in

Best Offers Fixed Rate Mortgage

So, its time to buy the first home, and you have a mortgage. Visit now http://getquickenmortgageloans.blogspot.com

This is a great step must be a swarm of research to get just right. This article is here to help you trigger unprecedented decisions you will learn the meaning of your down payment, how much you should be spending and what to do if you do not your mortgage interest.

There are undemanding and pdq rules in the mortgage world, but the work is incomparably clear whetted your deposit, the better. If you would like to avoid more interest, More >

Go to Top