Q&A
Asked by John
Hi John:
Yes there are definitely "no-cost"
refinances. You will ALWAYS see fees but the
key point is whether or not those fees are
simply being "rolled into" the n...
Q&A
Asked by Martha
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Upvote 26
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Yes, many banks will SLIGHTLY reduce the
interest rate on a loan if you set up an
escrow account with them for taxes and
insurance. Good luck!
Q&A
Asked by Tony
The answer to your question depends on many
factors, Tony. How much equity do you have?
What will you use the funds for? How likely
are you to use the cash to pay d...
Q&A
Asked by Gina
Gina:
The answer you received from Nic is
correct. Another term you may hear is
"underwater" which means the same thing. Note
that although someone may be "upside d...
Q&A
Asked by Joseph
Answered by Nic Netherton
Mortgage Professional in Fort Collins, CO
Mortgage Professional in Fort Collins, CO
Private mortgage insurance is generally
charged with conventional mortgages, mortgage
insurance (MI) is charged on government loans
(FHA).
Q&A
Asked by Gina
It's all about a cost/benefit analysis for
your particular loan, rather than a "refi if
your rate drops by 1%" or other general "rule
of thumb". It may not pay to ref...
Q&A
Asked by Lynn
Reverse mortgages are a great tool, in certain
circumstances, and an expensive mistake in
others. Their interest rates and costs are
higher than typical mortgages, an...
Q&A
Asked by Erin
No, you can't endanger your current loan by
attempting to refinance. Some borrowers start
the refinance process however, hear "you'll
skip two month's payments", and ...
Q&A
Asked by John
All good points above, particularly using a
loan officer who tracks MBS trading in real
time, and who understands the factors that
influence rates. Shorter term locks...
Q&A
Asked by caleb.mcel
Answered by Daniel Munoz
Mortgage Professional in Plano, TX
Mortgage Professional in Plano, TX
It is absolutely worth considering especially
if your loan was originated before late 2015!
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