Archive for February 3rd, 2009
Is this the Best Time for Mortgage Refinancing
Posted by: | CommentsIs today the best time to refinance your mortgage? How is your credit score? What is the current estimated value of your home? Can you document your income with pay-stubs, W2, etc? What is the existing interest rate on your 1st mortgage? Do you currently have a FHA home loan? Are you seeking a cash out refinance or simply a rate and term transaction? Do you have a second mortgage or home equity loans as well? Have you been turned down recently by other lenders? How long do you anticipate staying in your present home?
These are a few key refinancing questions you should expect from your lender when applying for a new refinance loan. Remember, if you don’t qualify for a traditional refinance, ask your loan officer about the possibility of a mortgage loan modification?
Is it a Good Time to Refinance?
With the Federal Reserve continuing to drop interest rates, many homeowners are beginning to wonder whether it is wise to refinance their mortgage again. However, what is the best scenario in which to do this? Can a mortgage loan still be an avenue for wealth-building? Matthew Sapaula comments on Fox News and offers some mortgage refinancing tips and insight on how your mortgage management is a key to building lasting wealth.
