Tag Archives: mortgage refinancing

For people who are thinking about refinancing their mortgage loan, there are many questions they may have. One of the biggest questions is if they have to use the lender that they currently have. The answer is a big NO. You absolutely do not have to use the same lender that you have. A lot of people refinance specifically so that they can get a new lender. A new lender can offer you lower rates than they currently have and have different terms that you may like better. When refinancing, you typically will pay much less in interest than you would on your current loan. It is important to understand exactly what refinancing is. Basically, refinancing is where you get a new loan that replaced your old one.

There are many things that you will want to consider before you refinance your mortgage loan. The first thing you want to look at is the rate of the loan. You don’t want the interest rate being higher than the loan that you are trying to clear up. Another thing you want to look at in regards to the interest rate is that the rate is static, not fluctuating. If it’s not fluctuating that means the monthly payments will be different every month and can be a headache not knowing how much the bill is going to be. Continue reading

Posted in Bad Credit Mortgage, Houston Mortgage News, Mortgage Rates, Refinancing News, Tips & Tricks, Uncategorized | Tagged , , | Comments Off

Buying a home is the largest investment that most people make. Making payments on a 30-year mortgage loan requires over half of a person’s working years, and the value of his property is constantly changing. What should be done?

Perhaps the best strategy is to purchase a starter home so that you will have equity to buy a permanent home in the future. You should consider the home’s location and structure. Determine in which direction the city is growing, and buy a house as close to the outer edge as possible. If the city continues to grow in that direction, you should have a ready market for your house. You should also buy a house with as many energy-efficient features as possible.

Once you have found the home you want, you will need someone to finance your loan. Most people begin with their personal banks. The bank already has most of your information, and they can quickly determine that you do or do not qualify for a loan. Continue reading

Posted in Bad Credit Mortgage, Houston Mortgage News, Mortgage Rates, Refinancing News, Tips & Tricks, Uncategorized | Tagged , , , | Comments Off

Investors are refinancing their rental properties because it is one of the best ways to reduce mortgage rates and put more money back in their pockets each month. Having more cash flow means investment property owners have more flexibility to … Continue reading

Posted in Mortgage Rates, Refinancing News, Tips & Tricks | Tagged , , , , | Leave a comment