This is an all too common phrase some lenders throw out when marketing their refinance programs or when speaking with a loan officer on the phone. A refinance replaces one loan with another and there are multiple reasons to refinance other than lowering an interest rate but skipping a mortgage payment isn’t one of them. […]
Have you heard of the term “streamline refinance”? Lenders certainly have and when you discover what this process actually is, you may very well decide it’s time to refinance after all. A streamline refinance is where an existing mortgage is completely replaced by a new one. The term was originally coined when the Federal Housing […]
There really is more than one reason to refinance an existing mortgage. Homeowners with a mortgage most often start to consider refinancing when interest rates have taken a dip. After all, a lower interest rate means lower monthly payments which saves borrowers money each month. There really is no direct correlation regarding how much lower […]
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