The new Home Affordability Refinance Program has made it even easier to refinance your home, even if you owe more than its value. Just because you can refinance your home, however, doesn’t mean you should. Make sure you consider the answers to the following questions carefully before you commit.
How does an ARM work and is an ARM right for you? Recently, my husband and I decided that an adjustable rate mortgage was right for us. Here’s my experience with an ARM to help you answer the previously mentioned questions.
Does a co-op interest you? If so, Quicken Loans has some very exciting news. For the first time, Quicken Loans is offering home loans to co-op homeowners in New York!
Saving money on your mortgage. Sounds nice, doesn’t it? Everyone would like to either lower their payment, pay off their home sooner, or maybe even take cash out of their home. Well, Quicken Loans just made that even easier by offering the Official Mortgage Review. With a simple phone call, you can challenge your mortgage and find out how much we can save you.
A VA loan allows you to buy your home with zero down or to refinance the full value of your existing home all with relaxed credit requirements. Unfortunately, there are veterans and service members who have reservations about using this benefit because of the funding fee associated with it.
Although it’s one of the most widely used benefits offered by the Department of Veterans Affairs, many veterans have questions about the rules and regulations about using their VA loan. One of the most asked about issues is the loan’s occupancy requirements. Questions often asked include: How soon after buying my home do I have to move in? What if I am deployed? Can I rent out my home with a VA loan? Read on to learn more about VA loan occupancy requirements.
How do you get a copy of your DD-214 for a VA loan qualification? Find out in this video featuring, the VA, Military.com, the National Association of Realtors and Quicken Loans.
Mortgage rates can only drop so much before they begin to rise. Last week, fixed mortgage rates inched upward according to the Primary Mortgage Market Survey for the first time since the beginning of the month. That trend continued this week as rates again rose slightly.
We used to think that HARP-eligible borrowers were “underwater” meaning they owed more than their home was worth, but wasn’t always true. In fact, since the inception date of HARP (April 2009), 56% of all those who had completed a HARP refinance had Loan-to-Value (LTV) ratios of 80% to 105% of the home’s worth, meaning: they didn’t actually owe more on their mortgage than their home was currently worth. Should you be taking advantage of HARP? Read on to see why you should be.
Recent statistics note that nearly 2.7 million American homeowners could refinance with the Home Affordability Refinance Program, more popularly known as HARP, and save hundreds of dollars each month. However, some of you out there might still be a bit confused on what exactly HARP is and whether you qualify for it.