Debt

Debt

How to pay off both student and mortgage debt at the same time

Approximately 44 million people in the United States have student loans worth a total of $1.44 trillion, according to Experian. Many of these borrowers also own homes. While one of these debts

Mortgage

Mortgage refinance guide

Refinancing a mortgage can free up money for homeowners in a couple of ways, either by reducing their monthly payments or by substituting a new mortgage in an amount higher than that of

Mortgage

9 things to do before you refinance your mortgage

The Mortgage Bankers Association reports that refinances comprised a significant portion of mortgage applications during the last half of 2019. The relatively low interest rates during this period were encouraging homeowners to refinance

Mortgage

5 Tax Benefits for Your Mortgage Refinance

The tax advantages to be gained from refinancing a mortgage are much the same as those available when you take out a first mortgage. OverviewThe Tax Cuts and Jobs Act that went into

Mortgage

Can a reverse mortgage be refinanced?

A reverse mortgage is a type of mortgage that allows qualifying homeowners to access their home equity as a source of income. It’s called a reverse mortgage because it involves the lender

Mortgage

What are the current mortgage refinance rates?

The interest rate is one of the first things people look at when shopping for a refinanced mortgage, because it is the key factor in determining the total cost of borrowing. External factors

Mortgage

How does a second mortgage work?

Most homeowners pay for their homes by taking out a mortgage, which they repay by making payments over time. Loan payments that are made toward the mortgage principal build up equity in your

Mortgage

How do I qualify for a mortgage?

Most people don’t have the cash to buy a house outright, so they must take out a mortgage to pay for it. In deciding whom to approve for a mortgage, lenders generally

Mortgage

How do I refinance my home?

The refinancing of your home is the replacement of your existing home loan with a new loan. The most common reason to refinance is to take advantage of a significant drop in interest

Mortgage

Should I refinance my mortgage?

As markets change, interest rates move up and down. When rates are moving down, people may be inclined to refinance higher-interest loans, replacing them with new loans at a lower rate and with

Mortgage

What does an appraiser look for when you're refinancing?

Refinancing is very much like the process that home buyers go through when they're getting a first mortgage. The refinancing process with a traditional lender starts by submitting financial paperwork. If the paperwork

Mortgage

Refinancing vs HELOC: Which is the best option for me?

If you're a homeowner who regularly pays your bills and has equity in your home, you're probably aware that you have access to different types of credit. Two options that are available to

Mortgage

What is private mortgage insurance?

Like other types of mortgage insurance, private mortgage insurance (PMI) protects the lender in the event the borrower stops making payments on the loan. The lender obtains PMI from a private insurance provider.

Mortgage

How long does mortgage underwriting take?

The mortgage underwriting process can be complicated for first-time home buyers. Knowing more about underwriting can help make the home purchase process easier and less mysterious. Here's what you need to know.What

Mortgage

How much does it cost to refinance a mortgage?

When you borrowed money to buy your house, you negotiated the best interest rate and mortgage deal you possibly could. If rates have dropped since your original closing, you might be in a

Mortgage

Which bank is best for refinancing?

While there’s always a focus on finding the best possible interest rate for a loan refinance, other factors are also important: the easiest process, low fees, and good customer service. Historically, most

Mortgage

What is mortgage hazard insurance?

If you're a first-time homebuyer and the mortgage process is new to you, you probably are not familiar with the term "mortgage hazard insurance." Understanding what hazard insurance is and how it affects

Mortgage

Should I fully pay off my mortgage?

Almost every homeowner dreams of the day when they can own their house outright. With this dream in mind, paying off your mortgage ahead of schedule can seem like the best financial option.

Mortgage

Does refinancing hurt your credit score?

Credit bureaus are constantly urging us to check our credit scores for changes, so it's understandable that we can become obsessed with them. When preparing to refinance your home, you may have read

Mortgage

What is a reverse mortgage and how does it work?

Americans have about $24 trillion set aside in retirement savings — but according to the AARP 55 percent of workers don’t have any employment-based savings and three-quarters of Americans between 55 and 64