Home Refinance Programs
Many homeowners benefitted from a variety of home mortgage refinance programs to meet their needs with unique plans like HARP, streamline and FHA regardless of their credit or equity status. Borrowers can choose home refinance loans for securing a lower interest rate, financing property improvements, getting cash out or consolidating debt. We are a leading mortgage lender offering superior refinance programs available in all 50 states. Our lenders have the experience you need to help you shop refinance loans online. This year home refinance guidelines have been eased a bit with more aggressive lending options for underwater homeowners. The 2014 HARP plan could still help millions of underwater borrowers find lower rates that translate to reduced housing expenses. Both the HARP and streamline program have completely removed all equity requirements for home mortgage refinancing.
Compare FHA, VA, Fannie Mae, Freddie Mac House Refinancing Options
BD Nationwide can help you shop lenders that guarantee the best home refinance rates online to qualified borrowers in all 50 states. Take a minute to read some of the featured highlights of our 2014 home refinance programs below. Zillow reported that rates fell into the 3.5% range last year on thirty-year home refinancing we have seen a significant surge in homeowners rushing to lock into a record low interest rate.
Calculate the Savings with Lowest Home Refinance Rates in 50 Years!
- FHA Refinance to 96.5%
- Conventional Home Loan to 90%
- VA Home Refinancing to 100%
- Refinance with Cash Back
- HARP Refinance with No LTV Limits
- Streamline Loans with No Appraisal Needed
- 3/1 ARM Refinance (fixed rate for 3 years)
- 5/1 ARM Refinance (fixed rate for 5 years)
- 7/1 ARM Refinance (fixed rate for 7 years)
- 10/1 ARM Refinance (fixed rate for 10 years)
- 15-Year Fixed Rate Mortgage 30 Year Fixed Rate Mortgage
Do Today's Home Refinance Programs Meet Your Needs?
Lenders are in the business of selling services to their customers. This means that a lender is probably not the best person to discuss whether or not the current refinance programs available are what you need to achieve your goals. Instead, you should take a little time to carefully consider the different options that are available and what it is exactly that you are interested in achieving by refinancing your home in order to determine whether or not refinancing is the best option or if some other course of action is a better choice.
Understanding Home Refinance Programs
One of the most important things to do when taking a look at refinance programs is to compare the different program side-by-side. There are actually a surprising number of options available, ranging from the actual length of the term to loans that are fixed-rate versus adjustable rate. Weighing the pros and cons of home refinancing also involves factoring in the closing cost, which a lot of people unfortunately failed to do.
Why Do You Want To Compare Home Mortgage Refinancing?
This is an important question to consider. Are you interested in refinancing your loan so that you can pay off your home sooner? Or, do you like the idea of simply making lower monthly mortgage payments so that you have more money for other endeavors?
If you are more interested in paying off your home as soon as possible, you may want to consider making prepayments rather than refinancing. Prepayments offer a number of benefits, not least of which the fact that you don't have to go through the process of applying for loan and possibly being declined. Likewise, since this is something that you can do completely on your own, you are not beholden to any type of schedule or obligation and you don't need the approval of a lender in order to start making prepayments.
BD Nationwide provides several home mortgage refinancing programs designed for consolidating debt, financing new home construction and converting adjustable interest to a fixed rate term. With so many home refinance loan choices, you are sure to find a loan that meets your needs and save you money. 2012 refinance requirements are trending towards more income documentation. This is difficult for self-employed borrowers and homeowners who have grown accustomed to stated income loans. The good news for many underwater borrowers is that the other trend is less of an emphasis on appraisals.
Like interest rates, refinancing guidelines can change frequently so it is imperative that you speak with a loan officer regarding your eligibility for a specific refinance program prior to making any decisions. For example, the 2014 HARP guidelines have changed dramatically in recent months. Initially the HARP had a loan to value cap at 125%, but recently President Obama mandated removing the restrictions completely. See HARP Refinance Program 2.0 for more info or go to government website, called Making Home Affordable. This federally funded site is dedicated to the Home Affordable Refinance Program.
In most cases people look to refinance their loan to get better terms. People usually refinance their home to lower the interest rate and save money. Sometimes, people choose a refinance loan to convert their adjustable rate to a loan with a fixed rate. The most common reason to refinance has always been to access additional cash.