Interest Rate Reduction Refinance Loan
PMI or Private Mortgage Insurance helps you secure a loan for more than 80% of the home’s purchase price. Because high loan-to-value loans carry a high risk of default, conventional lenders require you to purchase Private Mortgage Insurance. The insurance protects the lender should you default on your loan. Compare Offers from Several Mortgage Lenders. […]
Refinancing your mortgage is just like getting your purchase mortgage. The only difference is that you own the home now – you aren’t trying to purchase one. What does this mean for the type of documentation you must provide a lender? Looking for Current Mortgage Interest Rates? Click Here. You’ll provide a large majority of […]
If you have a VA loan, you may wonder just how long you have to wait to refinance it. This is called the seasoning requirements or seasoning rules. Each loan program has them. They are a way to protect lenders from borrowers turning around and paying off a loan the lender just wrote for them. […]
