Mortgage & Refinancing Information


Mortgage & Refinancing Information

What is an Interest Only Mortgage?


An Interest Only Mortgage is one where the repayments are made up entirely of the interest on the loan. When the mortgage term is complete, the capital originally borrowed is still outstanding.

Guide to Interest Only Mortgages


Here is a useful guide to interest only mortgages. An interest only mortgage is one where your regular payments only go to pay off the interest on the money you borrow.

What is a Tracker Mortgage?


A tracker mortgage 'tracks' the Bank of England base rate, meaning your mortgage stays in line with interest rates and the market in general. The result on your monthly mortgage interest payments is that they go up when the base rate goes up and go down when the base rate goes down.

Bad Credit Loans Authenticate What Is Positive About Bad Credit


This might not be the front page news but it is now out in the open! 'Bad credit is getting loans - all kinds of loans'. Lending institutions, banks and other financial constitutions are coming forward to provide loans for bad credit.

Key an Eye on Your Mortgage Payments


In previous decades, when a borrower missed a payment on a mortgage, the lender would often consider them one month behind until they eventually caught up. Most lenders would impose a late fee and other interest or penalties, tacking them onto the back end of the loan as long as the lender stayed current with the rest of their payments.

The Truth About Shopping for Mortgage Rates


With so much lender advertising focusing just on rates, you may not be aware of the importance in choosing an experienced, reliable loan professional who can match you with the appropriate loan program. Good loan officers and mortgage brokers may quote today's rate when asked, but they will quickly add they need to know more about you to determine the best program for your individual situation.

Choosing a Mortgage Lender


Just as there are many types of mortgages and mortgage deals to choose from, there are also many sources where you can go to get a mortgage. Your key choices are to use a mortgage broker, a more general financial adviser, or shop around yourself and go direct to the mortgage lender.

What is a Fixed Rate Mortgage?


As the term implies, with a fixed rate mortgage the mortgage rate is fixed for a set period of time, so no matter what movements occur in the lender's standard variable mortgage rate, the borrower's arrangement is fixed and, therefore, so are the monthly fixed rate mortgage payments.A fixed rate mortgage would suit someone who likes to know where they stand.

What is a Self-Employed Mortgage?


Self-employed mortgages, as the term implies are mortgages designed for those that are self-employed. Traditionally it's been more difficult for the self-employed to get mortgages.

What is a Capped Mortgage?


A capped mortgage is a variable rate mortgage with a capped limit beyond which the rate paid will not exceed.Mortgages are available in a number of different interest rate options, one of which is the capped rate.

Sub-Prime Mortgage Loans - Things You Should Know About Sub-Prime Mortgages


Sub-prime mortgages are not that much different from average mortgages. They have interest rates, points, and fees.

Buying a Home With Bad Credit - Tips on Finding the Right Broker or Lender


You can buy a home with a bad credit record; you just need to find the right mortgage financing package. Before you sign up with the first company that offers you a loan, remember to research offers to be assured you are getting a fair deal.

Financing a Home With Bad Credit


Financing a home with bad credit is a common problem for people. Over 25% of homes in the US are financed through sub prime lenders, who offer financing to high-risk borrowers.

Bad Credit Mortgage Lenders - Things You Should Know About Subprime Lenders


Interest rates and fees vary between subprime lenders just like regular mortgage lenders. Just because you have bad credit, that doesn't mean you should accept the first financing offer from a subprime lender.

Bad Credit Refinance Loans - Finding a Good Lender


Finding a good lender to help you with refinancing your home loan can be tricky if you have bad credit. There are plenty of predatory lenders out there who would like to take advantage of you with excessively high interest rates and fees.

More Articles from Mortgage & Refinancing Information:
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MORE RESOURCES:
Mortgage refinancing spree becomes a race against the clock  Bankrate.com

Some 43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data ...


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.


Senior Life: How cash-out refinancing can turn into a costly mistake  The Delaware County Daily Times

(BPT) - After years of making regular mortgage payments, it feels good to watch your net worth make upward progress. That's especially true if your house is also ...


Lender offers cash-out refis to aid federal workers during shutdown  National Mortgage News

Better Mortgage has launched a mortgage refinance program to help federal government employees affected by the shutdown utilize their home equity for living ...


Refinance mortgage rate dips for Tuesday  Bankrate.com

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


Refinance mortgage rate slides for Friday  Bankrate.com

Refinance rates were mixed, but one key rate tapered off. The average rate for a 30-year fixed-rate refinance trended down, but the average rate on a 15-year ...


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.


REAL ESTATE MATTERS: Reasons to refinance your mortgage  Sarasota Herald-Tribune

Q: If you have a fixed rate mortgage, why would you ever want to refinance if you plan to stay in the home for duration of mortgage?A: That's a good question.


Refinance mortgage rate slides for Thursday  Bankrate.com

Refinance rates were mixed, but one key rate declined. If you haven't locked a refi yet, see how your payments might be affected.


Refinance rates retreat for Monday  Bankrate.com

Multiple benchmark refinance rates tapered off today. If you're in the market for a mortgage, see how your payments might be affected.


You Still Need A High Credit Score To Refinance  The Albany Herald

MoneyTipsTimes aren't great in the mortgage refinancing market. According to the October 2018 Origination Insights Report from mortgage application software ...


When Is the Best Time to Refi Your Home?  INQUIRER.net

We often hear the question, when is the best time to refinance your home. Learn the specifics about refinancing so you can take advantage of its benefits.


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.


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 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 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.


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

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 mor ...


Mortgage rate decline sparks refinancing demand in Capital Region  Greater Baton Rouge Business Report

With mortgage rates falling to their lowest levels in eight months, some Capital Region residents are seizing their opportunity to refinance on their homes.


Refinance mortgage rates mixed for Tuesday  Bankrate.com

Refinance rates were mixed today. If you're in the market for a refi, see how that could affect 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 ...


Mortgage rates drop below 4.5%. Homeowners scramble to refinance | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

There is a quiet refinance boom brewing, as mortgage rates sink to 9-month lows. Not since April 2018 have rates been this low. Freddie Mac, in its weekly ...


Refinance rates decline for Wednesday  Bankrate.com

Several key refinance rates were down today. If you're in the market for a home loan, see how your payments might be affected.


Mortgage rates stand pat as federal shutdown creates uncertainty about economy  The Washington Post

Without access to the usual economic data because of the federal government shutdown, mortgage lenders are left with a murky picture of where the economy is ...


Falling Mortgage Rates Lead to Surge in Refinance Activity  Mortgageorb

A surge in refinance activity resulting from a drop in mortgage rates helped push mortgage application volume up 23% during the week ended Jan. 4, according ...


Mortgage rates continue their slide, while the Fed raises its benchmark rate  Washington Post

Mortgage rates continued their retreat, helped by volatility in the financial markets and weakened inflation expectations. According to the latest data released ...


Decline in fixed mortgage rates continues unabated through the holidays  The Washington Post

The 30-year fixed-rate average dropped to 4.55 percent, its lowest level in nearly four months.


ARM mortgages are popular again: Are they the choice for you? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

ARM mortgages are suddenly more popular than they have been in years. Rising interest rates, better loan products and big money-savings are making ...


The 4 most common mortgage and real estate scams and how to stop them  Bankrate.com

In 2017 alone, 9645 victims reported real estate fraud, resulting in losses of more than $56.2 million, according to data from the Federal Bureau of Investigation's ...


Dropping mortgage rates near levels that could lead to more refis  National Mortgage News

Falling mortgage rates have reached the point where they are spurring speculation about a possible resurgence in refinancing, according to an FTN Financial ...


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.


Refinance rates decline for Saturday  Bankrate.com

Several benchmark refinance rates were down today. The nationwide average for a 30-year fixed-rate refinance was down, but the average rate on a 15-year ...


Refinance rates drop off for Monday  Bankrate.com

Multiple benchmark refinance rates sunk lower today. If you're shopping for a refi, see how that could affect you.


Home mortgage rates are down but you'd better hurry  Dallas News

Small changes in mortgage rates can have a big impact on the housing market.North Texas home sales fell about 6 percent in the fourth quarter of...


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!


Deutsche Lends $68M to Refi UES Condo Building  Commercial Observer

Wonder Works Construction has landed a $68 million Deutsche Bank mortgage to refinance a condo tower on the Upper East Side of Manhattan.


US mortgage market stable but facing challenges says Fitch  Mortgage Professional America

The US mortgage and housing market has some relatively solid fundamentals. But a report from Fitch Ratings says there are some challenges ahead including ...


The Right Way to Tap Your Home Equity for Cash  ConsumerReports.org

Millions of Americans are tapping their home equity for cash. That can be risky. Consumer Reports explains what to watch out for and how to choose the right ...


Veterans Pay High Price as Lenders Push Cash-Out Home Loans  Bloomberg

Eric Kandell is making his pitch to veterans. Wearing a red T-shirt, with the words “Low VA Rates” emblazoned across his chest, he looks fit and muscular, as if ...


Refinance rates slide for Saturday  Bankrate.com

Multiple closely watched refinance rates were down today. If you're in the market for a refinance, see how that could affect you.


Refinance rates move lower for Friday  Bankrate.com

Several benchmark refinance rates receded today. See what that means for your chances of getting a better mortgage rate.


Refinance rates slide for Thursday  Bankrate.com

Several closely watched refinance rates sunk lower today. If you're in the market for a home loan, see how your payments might be affected.


How the government shutdown is disrupting mortgage, real estate transactions  Bankrate.com

As the U.S. government shutdown continues, federal workers aren't the only ones being impacted. Some homebuyers, along with lenders and real estate agents ...


Kenya’s Biggest Mortgage Lender Plans to Double Loans in Two Years  Bloomberg

Kenya's biggest mortgage lender plans to double its home-loan business over the next two years by offering longer repayment periods, its chief executive officer ...


Nigeria Mortgage Refinance Company lists N11b bond  The Nation Newspaper

The Nigeria Mortgage Refinance Company (NMRC) has listed its N11 billion 13.80 per cent Series 2 Fixed Rate Bonds on the Nigerian Stock Exchange (NSE), ...


Refinancing needs can be complex as no two homeowners are in exact same situation  The Independent

Finding a mortgage provider and loan that meets your refinancing needs can be a complicated process and customers always have several questions.


Falling Mortgage Rates Raise Hopes for Battered Housing Market  The Wall Street Journal

Mortgage rates have fallen to around their lowest levels in eight months, offering a potential boost to the housing market after a rough patch in recent months.


US Mortgage Launches Program to Help Government Workers During Shutdown - Press Release  Digital Journal

US Mortgage Launches Emergency Home Buying and Refinance Program to Help Government Workers Currently Furloughed or Working without Pay. Program ...


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 ...


Closely watched mortgage rate up for Tuesday  Bankrate.com

Mortgage rates showed no clear direction today, but one key rate ticked up. If you're in the market for a home loan, see how that could affect you.


Millionaires Cash-Out Too; Big Refis for Big Homes  Mortgage News Daily

Somewhere in this country there are 230 homes with mortgage balances between $10 and $20 million dollars. According to a post written by Arthur Jobe in the ...


Mortgage rates retreat for Wednesday  Bankrate.com

Several benchmark mortgage rates ticked downward today. If you're shopping for a mortgage, see how that could affect you.


Not Everyone Benefited from Lower Interest Rates During the Great Recession  Kellogg Insight

In times of economic crisis or looming recession, the Federal Reserve can lower interest rates to incentivize borrowing and, therefore, spur economic growth.


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 ...


U.S. Bank steps up with low-interest loans for furloughed federal workers  Bankrate.com

Customers of U.S. Bank who are affected by the partial government shutdown are getting offered some relief. On Friday, the bank announced that it would be ...


How To Survive The Federal Government Shutdown  Forbes

Here's the best financial advice for the federal government shutdown.


Houston Firm Secures Loans For 6 Texas Multifamily, Retail Properties  Bisnow

LMI Capital closed on five multifamily developments and one shopping center in the Houston area in December. The deals exceed $28M.


Subservicer, Non-Agency Products; World Debt Increasing; Primer on "Duration" and Mortgage Pricing  Mortgage News Daily

Time has a way of slipping by. For example, I've really been meaning to transfer a bunch of Lotus 1-2-3 and Quattro Pro spreadsheets I have off of some floppy ...


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 ...


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.


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.


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 ...


Businesses offer furlough freebies, shutdown specials and assistance to federal workers  USA TODAY

Wireless providers including AT&T, Verizon and Sprint are willing to work with furloughed federal government workers on payment programs.


Should You Refinance Your Mortgage?  Forbes

Evidently many mortgage borrowers fail to understand that mortgage refinances have a variety of possible purposes, and their success depends on a variety of ...


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 ...


RBI’s revised ECB norms to curb refinancing options for corporates, says Fitch; here is the reason  The Financial Express

The changes in external commercial borrowings guidelines by Reserve Bank of India (RBI) will narrow refinancing options for Indian corporations, as masala ...


Mortgage rates drop for Thursday  Bankrate.com

Multiple key mortgage rates ticked downward today. If you haven't locked yet, see how your payments might be affected.


Refinance mortgage rates mixed for Saturday  Bankrate.com

Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.


Refinance mortgage rates mixed for Monday  Bankrate.com

Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage.


Mortgage rates drop for Wednesday  Bankrate.com

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


Expect to see fewer Keybank branches in future - Buffalo Business First  Buffalo Business First

KeyBank closed a handful of branches in Western New York last year, but it's unclear how many will close this year.


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 ratchets higher for Thursday  Bankrate.com

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


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.


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 ...


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.


Mortgage rates move down for Monday  Bankrate.com

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


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 ...


Mortgage application activity rises on uptick in refinance volume  National Mortgage News

An increase in refinance activity in the period after Columbus Day drove mortgage applications 4.9% higher from one week earlier, according to the Mortgage ...


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 ...


Refinance mortgage rate eases for Thursday  Bankrate.com

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


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.


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 rates slide for Friday  Bankrate.com

Multiple key refinance rates declined today. See what that means for your refi.


Thinking of Refinancing Your Mortgage? Check These 4 Financial Areas First  Forbes

Refinancing your mortgage can be a great way to save on your monthly payment or to change up the terms of your loan. However, while it's a financial move that ...


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 ...


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 rates move up for Thursday  Bankrate.com

Several closely watched refinance rates advanced today. If you're in the market for a mortgage, see how your payments might be affected.


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.


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.


Do mortgage lenders have minimum mortgage amounts? | Mortgage Rates, Mortgage News and Strategy  The Mortgage Reports

Are there minimum mortgage amounts to buy or refinance a home? Not according to most official program guidelines, but most lenders do set minimum amounts ...


Refinance rates fall for Saturday  Bankrate.com

Multiple key refinance rates trended down today. If you're in the market for a home loan, see what that means for you.


Refinance mortgage rate ratchets higher for Friday  Bankrate.com

Refinance rates were mixed, but one key rate increased. The average rate for a 30-year fixed-rate refinance advanced, but the average rate on a 15-year fixed ...


Refinance mortgage share falls back to 2018 low  National Mortgage News

As mortgage rates recently hit their highest point in seven years, closed refinances fell back to their low point of 2018, according to Ellie Mae.


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 ...


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 ...


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