Mortgage & Refinancing Information


Be Prepared when Seeking a Mortgage


When you're looking for a mortgage, whether it's a first time loan or you're taking advantage of an opportunity to refinance an existing mortgage, it may seem that you're wading through a quagmire of uncharted territory. If you're prepared ahead of time, you'll avoid some of the common pitfalls and know how to find the best deal for your situation.

Remember that you are the consumer and that you are shopping for a service. That means that you have the right to be treated as a customer. Ask questions and keep asking until you get all the answers you are looking for. If a potential lender is reluctant to spend the time addressing your concerns, you don't have to do business with that particular company. In today's market with the opportunities to shop for a mortgage online, finding a lender is the least of your worries.

Look for the best interest rates, but also search for a lender who offers the mortgage without the high closing costs. There are likely to be some requirements for closing the loan. You may be asked to pay for an appraisal, home inspection and even a survey if property is involved in the transaction. Those are fairly standard but be wary of a company that charges a large additional fee for closing costs though you can expect a moderate fee. A lender is a business and as such, is in business to make money. That means that you as the consumer should expect to pay for the service, but comparing fees and interest rates will help you find the best possible deal on your mortgage.

Finally, be aware of unbelievable claims. A company that promises you'll be approved for a loan regardless of credit is probably making promises that they can't keep. If you're asked to pay an application fee with this guarantee, you could be wasting your money. In some cases, the lender will approve the loan, but will make unreasonable requirements for repayment or down payment. If you then can't meet the terms, the company will have fulfilled their promise - they did offer you the loan. Your application fee is typically non-refundable and you've simply lost that money.

Mark Lambie is the founder of The Loan House a website that allows consumers to quickly and easily get mortgage quotes and mortgage information.


MORE RESOURCES:

Prepayment activity hits 10-year low as mortgage refinancing decreases  National Mortgage News

Continual declines in the refinance share of mortgage originations led to prepay rates dropping to their lowest levels since 2009, according to Black Knight.


Better Mortgage Launches Emergency Refinance Program to Help Government Workers Currently Furloughed or Working without Pay  Benzinga

NEW YORK, Jan. 17, 2019 /PRNewswire/ -- Better Mortgage, one of the leading digital mortgage lenders in the U.S., today announced that it has launched a ...


Refinance rates tick lower for Thursday  Bankrate.com

Several closely watched refinance rates dropped today. See what that means for you if you're in the market for a mortgage.


Refinance mortgage rate moves higher for Monday  Bankrate.com

Refinance rates were mixed, but one key rate trended upward. If you're in the market for a mortgage, see how your payments might be affected.


Cash-out mortgage refinancing: Here’s where homeowners are using it most  Bankrate.com

Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ...


Refinance mortgage rate moves up for Friday  Bankrate.com

Refinance rates were mixed, but one key rate advanced. If you're in the market for a home loan, see what that means for you.


Refinance mortgage rate moves higher for Saturday  Bankrate.com

Refinance rates were mixed, but one key rate climbed. If you haven't locked a refinance yet, see what that means for you.


Couldn't qualify to refinance last year? Lenders more likely to say yes in 2019 | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

If you have been wanting to refinance but had a hard time getting approved, 2019 might be your year. Lenders are allowing higher debt-to-income ratios, ...


Refinance mortgage rate rises for Thursday  Bankrate.com

Refinance rates were mixed, but one key rate climbed higher. If you're shopping for a mortgage, see what that means for you.


Shutdown Impact Spreads: Government Furloughs Put Some Mortgage Deals In Limbo  NPR

The partial shutdown of the federal government is causing some financial problems for furloughed workers who can't refinance their mortgages or buy homes ...


Why mortgage lending at Wells Fargo, Chase and Citi plunged  MarketWatch

Mortgage lending at three of the country's biggest banks has fallen off a cliff as customers pivot to online-only options and stop refinancing.


Closely watched mortgage rate moves lower for Tuesday  Bankrate.com

Mortgage rates diverged today, but one key rate tapered off. The average for a 30-year fixed-rate mortgage slid down, but the average rate on a 15-year fixed ...


Plunge in rates sparks 23.5% spike in mortgage applications after unusually weak holidays  CNBC

Homebuyers returning to the market after the holidays may have been inspired by the drop in rates, but stock market volatility and the government shutdown ...


Mortgage applications plummet nearly 10% to end 2018, despite lower rates  CNBC

The numbers are surprising, given that homebuyers and homeowners looking to refinance could have taken advantage of lower interest rates.


Mortgage Rates Fall as Government Shutdown Rolls On – Market Update  Zing! Blog by Quicken Loans

It's Day 24 of the partial government shutdown, but inflation is low, as are jobless claims and mortgage rates. All that and more in Market Update!


Mortgage rates continue their six-week decline, falling to nine-month lows  The Washington Post

Mortgage rates have been in a prolonged swoon, but it may be coming to an end. According to the latest data released Thursday by Freddie Mac, the 30-year ...


It's 2019. Stop Treating Customers Like Strangers  Danbury News Times

My wife and I communicate with each other quite a bit, as you might expect. We chat in person, talk on the phone, text each other, exchange emails, leave sticky ...


Should I Buy Now or Wait Until I Have 20% for a Down Payment?  Zing! Blog by Quicken Loans

If you're thinking about buying a house soon, there are no doubt plenty of questions that have crossed your mind. One of those questions is probably whether or ...


Mortgage refinance applications hit 18-year low  CNBC

Mortgage refinance applications hit an 18-year low. With no major move in interest rates and continued weakness in home affordability, there was not a lot of ...


StorageMart Takes Big Refi for Existing Self-Storage Properties, Development and Cash-Out  Inside Self-Storage

StorageMart, which operates more than 200 self-storage properties across Canada, the United Kingdom and the United States, is refinancing a large portion of ...


Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes  Credible News

Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind.


Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ...


Weekly refinance demand plummets as mortgage rates hit a 5-week high  CNBC

A sharp rise in mortgage interest rates took its toll on the lending business last week. Mortgage application volume fell 1.8 percent for the week, according to the ...


Factors to weigh when considering whether to refinance your home  Washington Post

REAL ESTATE MATTERS | If you can lower your interest rate, that's good. But you also have to look at your monthly payment. Will your new monthly payment be ...


Mortgage applications fall, as refinancing hits 20-year low  CNBC

A significant drop in mortgage interest rates was not enough to entice homeowners to refinance their loans last week.


2018 proved to be better for Better as loan volume tripled  Mortgage Professional America

Digital lender saw origination volume grow to $1.34 billion.


Refinancing activity in the US just plunged to the lowest level in over a decade  Business Insider

Refinancing activity plunged to the lowest level since 2000 as interest rates rise.


How should I apply for a mortgage refinance: in person, by phone or online? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

You can apply for a mortgage refinance in person, over the phone or online. Just make sure that the company is legitimate before providing personal information ...


How can World Bank help Pakistan's housing scheme?  Global Village space

The World Bank Groups support for housing in Pakistan has been very broad-based and has been designed to tackle multiple inefficiencies.


D.C. Delinquent: Chasing Down D.C.'s Worst Offenders for Bad CMBS Debt  Commercial Observer

The D.C. metro area has the highest CMBS delinquency rate in the country, with 4.59 percent of its structured finance loans late to pay.


Federal shutdown creating mortgage victims  The Real Deal

When the government shuts its doors because of a funding brouhaha that pits the White House against Capitol Hill, who gets hit hardest among people needing ...


Refinance mortgage rates mixed for Friday  Bankrate.com

Refinance rates were mixed today. If you haven't locked a refinance yet, see what that means for you.


Refinance mortgage rate falls for Friday  Bankrate.com

Refinance rates were mixed, but one key rate declined. If you're shopping for a mortgage, see how your payments might be affected.


How To Win A Slice Of $1 Million To Pay Off Your Student Loans  Forbes

Natty Light is stepping up its commitment to help reduce student loan debt - including potentially yours. Natty Light (a light beer also known as Natural Light and ...


3 Signs You Should Refinance Your Mortgage  The Motley Fool

Refinancing at the right time can save you thousands of dollars a year.


Credible Expands Their Marketplace Into Mortgage Refinancing  Lend Academy

Credible made a name for themselves in student loans. They are the first and largest marketplace for people looking to refinance their student loans. Borrowers ...


Take a Load off, Fannie: Ninth Circuit Finds Fannie Mae is not a CRA  Lexology

When Robbie Robertson wrote the well-known lyrics to The Band's song “The Weight,” the “Fannie” referenced in the chorus was certainly not Fannie Mae…


Key Development Considerations - Affordable Housing  Proshare Nigeria Limited

Apart from being one of the items that absorb a large portion of household expenses, housing plays a special role in the social, political and economic discourse ...


How to refinance to pay off a mortgage faster | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

You probably have a number of ways to pay off a mortgage faster. You can refinance to a shorter term, pay more on your existing mortgage or free up your ...


When to refinance: I need to lower my mortgage rate or payment | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

If you're wondering when to refinance, consider your objectives and see if you'll pay less interest, reduce your payment, or lower your overall costs.


With today's mortgage rates, you can still refinance for lower payments. Here's how | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Many homeowners refinance for lower payments or interest rates. Here's what you need to know about your options and some pitfalls.


When Is a Cash-Out Refinance Loan a Good Idea?  U.S News & World Report Money

In a cash-out refinance mortgage, you take a loan against your home in excess of what you owe, leaving you with cash available to spend. Adding to the debt ...


Grandbridge closes $3.9 million loan for Minnesota retail property  REjournals.com

Grandbridge Real Estate Capital recently closed a $3.9 million first mortgage secured by a 7,600-square-foot property in Minnetonka, Minnesota. The refinance ...


Rates Are Rising, But Is It Time To Refinance? Five Scenarios To Consider  Forbes

If any of these scenarios apply to you, you may want to look into refinancing.


Mortgage rejections soar 400% as credit crunch bites  MacroBusiness

By Martin North, Principal Analyst at Digital Finance Analytics: The latest data from our surveys indicates that around 40% of loan applications for mortgages ...


Best cash-out refinance lenders 2019 | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

If you want to pull equity out of your home in 2019, check out this list of best cash-out refinance lenders. Because mortgage rates and costs for cash-out ...


Refinance mortgage rate trends higher for Thursday  Bankrate.com

Refinance rates were mixed, but one key rate notched higher. The nationwide average for a 30-year fixed-rate refinance rose, but the average rate on a 15-year ...


What the government shutdown means for New Jersey agencies  NorthJersey.com

Travelers could face long lines at Newark Airport because of TSA employees calling out sick, and the Paterson Great Falls visitor center is closed.


Texas cash-out refinance: new laws you need to know | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Cash-out refinance Texas rules for homeowners in Texas. Texas cash-out refinancing is different from other states and you'd better know the rules before taking ...


How are mortgage applications affected by property prices? - Surf Coast Times  TIMES NEWS GROUP

Whether it's cause or effect, property prices have also dropped in line with increased background checks and the decrease in interest-only loans. IF you're ...


Rocket Mortgage Review  Bankrate.com

Rocket Mortgage from Quicken Loans lets you apply for a mortgage in minutes using nothing more than a smartphone app.


How Long Does It Take to Refinance a Mortgage?  Realtor.com News

How long does it take to refinance a mortgage? Refinancing should take anywhere from 30 to 45 days on average, although that can stretch to 60 days if you hit ...


Refinance mortgage rate eases for Saturday  Bankrate.com

Refinance rates were mixed, but one key rate slid lower. If you're shopping for a refi, see how your payments might be affected.


Best Mortgage Lenders  Bankrate.com

The best mortgage lender isn't the same for everyone.That's why we compiled a list of best mortgage lenders for first time home buys to those looking for their ...


Mortgage rates are on the rise. Here are some tips for getting the lowest rate.  The Washington Post

The 30-year fixed-rate average hit a seven-year high last week. But that doesn't mean you still can't get a low rate when buying a home or refinancing a loan.


How to use a cash-out refinance to buy another home | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Can or should you use a cash-out refinance to buy another home? Maybe, if that's the most cost-effective source of a down payment or even the whole purchase ...


Refinance mortgage rate slides for Monday  Bankrate.com

Refinance rates were mixed, but one key rate sunk lower. See what that means for your chances of scoring a killer refi rate.


Refinance mortgage rate slides for Thursday  Bankrate.com

Refinance rates were mixed, but one key rate slid lower. If you haven't locked a refinance yet, see what that means for you.


U.S. import prices fall; year-on-year drop largest since 2016  Reuters

U.S. import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods, ...


Do I need an appraisal to refinance my home? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Do you need a home appraisal to refinance your mortgage? Not necessarily. Here's what you need to know about conforming, USDA, FHA and VA refinances ...


Mortgage refinance candidates cut by half in the past four months  National Mortgage News

The number of mortgage borrowers for whom it made sense to refinance declined by nearly half since the end of last year and is at its lowest since November ...


What It Takes to Refinance a Jumbo Loan  NerdWallet

Refinancing a jumbo loan, a mortgage over $484350, in most cases, and up to $726525 and even higher in some high-cost areas, can result in big savings and ...


Cash-Out Refinance Calculator  NerdWallet

A cash-out refinance can be a great financing option depending on your use of the cash and your financial profile. This calculator will help you determine how ...


Weekly mortgage refinances drop to an 18-year low as rates jump  CNBC

A sharp rise in interest rates last week meant far fewer homeowners could benefit from a mortgage refinance.


5 Tips for Finding the Best Refinance Mortgage Lenders  NerdWallet

Finding the best mortgage refinance lender for your situation requires knowing your credit score, shopping more than one lender, negotiating lender fees, ...


U.S. mortgage industry faces job losses as refinancing dries up  Reuters

NEW YORK (Reuters) - With mortgage applications falling to their lowest since late-2014, the U.S. home lending industry is facing a major overhaul in how it ...


Refinance Calculator : Should You Refinance Your Mortgage? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

A mortgage refinance calculator should tell you whether you should refinance, keep your loan, or make extra payments. Discover which option is best for you.


Cash-out refinance to buy a car (or pay one off) | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Is taking out a cash-out refinance to buy a car or a cash-ut refinance to pay off your car a good idea? Only in very specific cases. Here are some better ...


Should you do a cash-out refinance before retirement? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Does a cash-out refinance before retirement make sense? For some people, the answer is yes.


Should you choose low mortgage rates and high processing fees, or vice versa? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Mortgage processing fees and other costs vary by program and lender. And you, the borrower, also have control over what you pay. Higher rates cost less, and ...


Mortgage refinances fall to decade low  CNBC

Interest rates for home loans have risen each week this year, so each week homeowners have had less incentive refinance their mortgages.


After HARP mortgage program ends, options for underwater borrowers  Bankrate.com

The Home Affordable Refinance Program, or HARP, is expiring on December 31, 2018. HARP was created in coordination with Fannie Mae and Freddie Mac to ...


Cash-out refinance rules for FHA, VA, conventional and reverse mortgages | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

If you're considering refinancing for extra money, know the cash-out refinance rules. They vary with the loan type, and one loan might be better for you than ...


Refinance mortgage rates mixed for Wednesday  Bankrate.com

Refinance rates were mixed today. If you're in the market for a refi, see how your payments might be affected.


Weekly mortgage applications rise 2.9% as interest rates move even higher  CNBC

Homeowners continued their rush to refinance, as mortgage rates jumped even higher last week. The new highs seem to be sending a message that this is the ...


Homeowners Ditch Refinancings as Mortgage Rates Rise  The Wall Street Journal

Refinancings make up a smaller portion of the mortgage business than at any time in the past two decades, posing a challenge for lenders who already fear ...


4 Smart Reasons To Refinance A Mortgage  Forbes Now

Here are four reasons to refinance your mortgage, along with how best to evaluate just how much you'll save.


Home Equity Loan vs. Cash-Out Refinance: Ways to Tap Your Home's Value  NerdWallet

A home equity loan and a cash-out refinance are two ways to access the value that has accumulated in your home. If you already have a mortgage, a home ...


Goodbye refi: Rising interest rates all but erase refinance demand  HousingWire

While mortgage interest rates dipped ever so slightly in the last week, they've been trending up for the majority of this year. In fact, the interest rate on a 30-year, ...


Refinance rates drop for Wednesday  Bankrate.com

Multiple closely watched refinance rates trended down today. See what that means for you if you're in the market for a home loan.


Refinance rates dip for Friday  Bankrate.com

Multiple closely watched refinance rates were down today. See what that means for you if you're in the market for a mortgage.


Cash-out refinance for student loans: new program makes it cheaper and smarter | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Using a cash-out refinance for student loans may save you money if the interest rate is lower, and more so if your interest is tax-deductible. Another advantage is ...


Refinance rates ease for Wednesday  Bankrate.com

Several benchmark refinance rates trended down today. See what that means for you if you're in the market for a home loan.


Refinance mortgage rate moves higher for Wednesday  Bankrate.com

Refinance rates were mixed, but one key rate trended upward. See what that means for you if you're in the market for a home loan.


Mortgage refinance share jumps 5% despite rising interest rates  HousingWire

The refinance share of mortgage activity increased a full 5% from December to January, rising to 45% of all closed loans, according to the latest Origination ...


Should you roll your student loans into a mortgage?  Bankrate.com

It might make sense for some people to take out a mortgage that covers their home and their student loans. It also might be a misstep.


Why it may be unwise to refinance a low home mortgage balance  The Washington Post

Q: Is it wise to refinance my mortgage if it has a balance of just $26,000? The loan was for 30 years at a fixed interest rate of 7.5 percent. I purchased the home ...


Oklahoma business briefs  NewsOK.com

Leadership program Friday morning. GiANT Worldwide is offering its 100X Leader Summit in Oklahoma City at 8-11 a.m. on Friday at Crossings Community ...


Home closing: What happens on the day of funding? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Your home closing may also be called the day of funding. That's when the lender reviews your file, determines that all requirements for underwriting and auditing ...


U.S. Mortgage Refinancing Lowest Since 2000, MBA Data Show  Bloomberg

U.S. mortgage refinancing dropped to the lowest since the turn of the century amid higher borrowing costs, according to data from the Mortgage Bankers ...


Mortgage refinances fall to the lowest level in a decade amid lean and expensive spring housing market  CNBC

Demand for mortgages weakened last week, despite a brief respite from rising interest rates. Total mortgage application volume fell 1.9 percent, seasonally ...


Refinance rates increase for Thursday  Bankrate.com

Several key refinance rates advanced today. See what that means for you if you're in the market for a mortgage.


Cash-out mortgage refis are back — will homes become ATMs again?  MarketWatch

As interest rates rise, fewer households refinance their mortgages. And the refinances that do get done are often very different than those initiated during ...


Quicken Loans Mortgage Review 2019  NerdWallet

Quicken Loans has become a leading mortgage lender, online or otherwise. Quicken Loans offers a full selection of fixed- and adjustable-rate home loans, ...


Getting Ready to Refinance  Zing! Blog by Quicken Loans

The first step in deciding whether you should refinance is to establish your goals. The most common reasons for refinancing a mortgage are to take cash out, get ...


Final approval from the underwriter: What happens next? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Final approval from the underwriter is a big step, but it's not the last step. Your lender will conduct a final review and some quality control. Don't drop the ball here ...


When and How to Refinance a Personal Loan  Bankrate.com

If you're thinking about refinancing a personal loan, check these factors first.


Newton Lodge launches en bloc sale with $44 million price tag  The Independent

Newton Lodge, a 16-unit collective sale site at Newton Road, has been launched for sale by sole marketing agent, JLL. Newton Lodge is conveniently located ...


Refinance your mortgage in just 7 steps  Bankrate.com

If your monthly house payment is too steep, or you have an adjustable-rate mortgage and want to switch to a fixed rate, or you need cash to replace a leaky roof ...


home | site map
© 2007