Refinance Help. Fill this form and get help!

Refinance Mortgage Information

(Best Syndication) This video will explore the option of refinancing a loan as opposed to taking out a second mortgage. When you refinance a ...

Mortgage refinance when is the best time ?

Apr 24, 2007 by CarolNV | Posted in Credit

Refinancing mortgage is not an easy decision, when is the best time to refinance ?

Interest rates fluctuate together with economy. Depending on what they were at the time of closing the loan, you may have chosen an adjustable rate loan or a fixed rate loan. That means that you get the benefit of keeping low interest rates or modifying the rates to a lower value if you have an adjustable rate loan. If, on the other hand, they were to rise to abnormal values, there is a maximum or “cap” to limit the incidence of rates on the loan. Read more http://refimortgage-online.blogspot.com/

what is the best rate someone can have for a refinance mortgage?

Oct 16, 2007 by Fast Pace | Posted in Renting & Real Estate

having 668 on credit score and being first time home buying. Today, what docs do we need to present to refinace? Thanks, I appeciate your help.

Hi Claudia; if you are siously considering this, and would like to speak to a live mortagge propfessional, you can email me at dantaft@bellsouth.net- you may be able to get a rate in the high 5s to low 6s, but I would really need more information to give you an accurate idea of what you would qualify for. Your question is a bit confusing as well, as you ask about refinancing and home purchase at the same time. Email me for more info and we can clear everything up and go from there.

What's the best indication of a good refinance mortgage loan?

Jan 01, 2008 by Dalyell D | Posted in Renting & Real Estate

fixed rate! no adjustable and surely not a wat is being marketed hyybrid ARM you want a fixed rate mortgage any term that works
your APR is not that much different than your interest rate! is a good indacation. look for the best interest rate and APR if you get a great rate and the apr is NOt that far off you have a great loan!

try to get the best rate if you have the equity let the lender wrap your closing costs into the loan but be aware of all charges! if they are over charging you it will show with the APR. now if they show yield spread and it looks high just so you know yieldspread is money the bank gives the broker to overcharge you in your rate.
i must say they're are many lenders that dont condone this practice. But it is very real a big reason we are in the mortgage mess and the rate of foreclosures are so high is from greedy overzellous brokers and banks

Where is the best (only) bank to get the absolute best deal on a refinance mortgage?

Mar 07, 2007 by twobearcatz | Posted in Credit

Does any such organization exist in this thievery invented by jews? It seems no matter what my credit score is I ALWAYS will get dinged on either a) closing costs b) rate or most often BOTH! Then, when you really play hardball with the banks they typically tell you they'll only do an ARM or something, anything less than a 30 year fixed rate mortgage. What gives? Where is the deal? I couldn't even find such a deal when they said rates were so good 3 years ago!.

I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.

what is the best mortgage in order to refinance ?

Sep 05, 2006 by im M | Posted in Credit

i have lets bad to ok credit.i tried to do an application with my current mortgage but they told me i couldnt do it because something about percents.and they also told me that if they couldnt get me approved no other mortage could ?? who knows if this is true or not.but i was wondering whats a good mortgage to refinance.my current mortgage is household finance,.

I have worked for Household before, and it sounds like it's either your debt ratio (the amount of your monthly bills divided by your monthly income)...or your loan-to-value ratio (how much you are borrowing compared to how much the house is worth).

I would need more details to help you more though. Email me if you need more help at robert495713@yahoo.com.

Who is the best mortgage refinance company?

Aug 23, 2006 by get-r-done | Posted in Renting & Real Estate

We are looking to combine our first and second mortgage on our home. current first approx. $80,000 current second approx $60,000 house value @ $165,000 would also like to have a little cusion in the bank. With less than perfect credit who is our best choice of lender

here's the thing...

You're looking for a 90% Loan versus a value at 165k, right there you are going to be in a higher interest rate range. Remember interest rate = RISK... The higher the risk to the lender, the higher the interest rate is going to be. 2nd you state that you have "Less than perfect credit", that is another hit to the interest rate.

In cases like this, I most often find it beneficial to actually HELP people understand thier best path. Now, you've been paying on the two mortgages for several months I'm sure, being as you have a 2nd mortgage that is comparable in size to the first, so what's the rush???

You should find a professional who has been in the business for several years and can help direct you in the most financially beneficial direction. Personally, I would work with you on your credit for a month or two and get your scores up. Have you had any lates to the mortgage? If so, when? What other late payments have been made and when? What is your primary source of income? how long have you been on your job? Do you plan to move within the next few years? how old are you? do you have a retirement plan set up? when do you want to retire? I already know you don't have significant savings and that is a concern to you, how can we work together to tackle that issue? What type of lifestyle do you lead/what's important to you? do you have children? what are thier ages? Finally, what is the market like in your area? Are values increasing/decreasing/holding steady???

All these questions are a major concern to you at this point. The only reason I go through all this is so you can see that there is more to it than the simple "What's the best bank for a refinance for a person in my position?". The question should be, "Who knows what they are talking about and isn't just some kid sitting behind a telephone looking to make a quick commission?" Trust me, I used to be that kid until I found out that I wasn't going to be in this job for long if I didn't start liking what I was doing.

Find a reputable mortgage broker, one who wants to assist you financially, not just help himself financially. Stay away from large mortgage companies at this point.

How do you know the broker is reputable? Well, he'll ask you all those questions I just aked. If you want to talk further email me, I won't even ask for your business :)

David

What is the best way to consolidate my debt? I have a mortgage and want to refinance,add my debt to new loan?

Sep 12, 2007 by shainastar08 | Posted in Credit

I have a $530,000 all-interest mortgage loan. I am interested in refinancing soon, (if it is a good time to do so?) Should I refinance and add my $15,000 of personal debt to my new loan? Or should I get a personal loan for $15,000 from my bank?

It might be hard refi-ing a jumbo loan these days.

Getting additional cash out might be impossible and a very bad idea to begin with.

my credit score is 645 and my wife. is 697.what is the best rate. that I qualify for a refinance mortgage loan?

Dec 28, 2008 by Reid M | Posted in Credit

I seem to be having a problem qualifing for a good rate loan.Do you have any advice for me?

Mortgage loan is a term used for the loans secured by a property. Mortgage loans refer to a loan secured by residential property, often for the purpose of securing real estate. Mortgage loans are priced lower than other loan structures because the value of the property risk for the lender.

http://www.worldbestloans.com/Mortgage%20Loan.htm

A fixed rate mortgage loan has its own benefit. If the borrower is budget conscious, he will remain at peace because the monthly mortgage amount will not change.Fixed rate mortgage loan is a loan where the interest rate remains the same through the term of the loan. Fixed rate mortgage loans are the most traditional form of loan.

what is the best way to determine if it is a good time to refinance your mortgage?

May 21, 2007 by josh w | Posted in Personal Finance

especially if you're on a five year adjustable rate?

It's a comparison of a few different numbers.

(1) The cost of the refinancing. You can get this for free from a lender, or you can look at your previous mortgage for a ballpark figure of how much it will cost. Some banks do "no-cost refinancing" which costs you nothing, but doesn't get you the best possible rate.

(2) The difference in the interest rates *times* your mortgage amount. So if you're looking to lower your rate by 1.5%, for example, on a $300k mortgage, then this number is $4500. That's how much money you'll save per year.

(3) Now divide (1) by (2). That's how many years it'll take to "break-even", after which you'll make money on the decision to refinance. Typically I recommend that people should be fairly certain that they're not going to move for *twice* as long as this number -- because they only *break even* after (1)/(2) years, and you want to refinance only if you're reasonably sure that it'll be a financial advantage for you.

There are other smaller factors like your tax rate, your other itemized deductions, your investment retun on the money you would otherwise spend on the re-finance -- but there's smaller variables than the ones mentioned above.

Good luck,

Doug

Best way to refinance mortgage/home equity line and remove co-borrower?

Jun 04, 2007 by cathoratio | Posted in Personal Finance

1st = $300K @ 5.62%
2nd = $50M @ 6.20%
Home equity is $125K @ 7.2%

Hoping to have just two loans. Conforming $417K and Home equity that would allow up to $512M in total debt so Home equity loan = $95M.

Something like that. House is worth $650 or so.......

I want to get my husband off all the mortgages...

What kind of debt could gross income of $8K per month support?

Is this a bad idea. We have been seperated 3 years but never divorced -- he is willing to stay on mortgages, but I would rather stand on my own and be able to change the title too.

I think too that would allow him to more easily purchase another home. I made 100% of the original downpayment on the one I am discussing.
Home equity loan was used for new roof, new windows, car note repayment, and debt consoldiation. Debt free except these mortgages/and the Heloc

Well if you are affording the curent payments on your loans, the new payments on the changed situation you descibe will probably be a little higher (since you will have about 35k new debt and since you may not be able to get the 5.6% rate that your main loan has) but not to much higher.

Also, so long as you have no other major costs (you said these were your only debts so that sounds like the case), it sounds like you have enough income to afford the new loans. The bank probably won't lend you more than 80% of the homes value without other costs (PMI and fees) so 517K borrowed on a 650K house is about all you would want to borrow (very close to 80%).

I'd advise going to your current bank (the one with the 300K mortgage) and telling them the whole situation and asking them if they will write the loans you describe. They will tell you if they can do it, and also will give you a "Good Faith Estimate" of what the approximate costs to do this would be. You may want to also go to a few other lenders to compare costs.