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What is TRID for Home Loans? The CFPB (Consumer Finance Protection Bureau) issued the TILA-RESPA Integrated Disclosure Rule (TRID) which will go into effect on 10/3/15. The purpose of TRID is to help home loan clients understand mortgage transactions by simplifying important forms and disclosures. TRID will be followed by all banks and mortgage lenders… Read more »
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Category: Refinance
Need some extra money? Consider cash-out refinancing.
Considering home renovations, debt consolidation or just need to get some cash in hand? A Cashout Refinance Mortgage may be the right fit for you. You can actually refinance your home mortgage for more than you owe and cash out the difference. It may seem like an easy way to get extra cash, but here’s… Read more »
How to Refinance a Home Loan
Want to save money on your mortgage? Refinancing might be the best way to take advantage of the historically low rates. Depending on your goal, make make great financial sense to refinance your mortgage. Here’s what you need to know to make the best decision. Benefits of Refinancing your Home Loan Before you refinance your… Read more »
Updates for Fannie Mae Conventional 97% Mortgage Loans
FANNIE MAE CONVENTIONAL 97% MORTGAGE LOANS A Conventional 97% mortgage loan is a Fannie Mae home loan that allows homeowners to purchase a home with only a 3% down payment. It is a great misconception that all conventional mortgage loans require a 20% down payment however many options for alternative financing do exist with low down payments… Read more »
Five Easy Ways to Pay Off your Mortgage Faster
If you are a person that plans for the future then you most likely have given thought about paying down your mortgage. For many families, your mortgage is the largest debt you have above car loans, student loans, credit cards and personal loans. You should put an equal amount of focus on paying off this… Read more »
Top 9 HARP Refinance Myths for Fannie Mae and Freddie Mac Home Loans
With over 2.9 million homeowners refinancing with the Home Affordable Refinance Program (HARP), there are still many people that are not taking advantage by refinancing their homes. There is a variety of reasons in which these homeowners are choosing not to drop their home loan rates with a mortgage refinance. Many of these reasons are… Read more »
Important Mortgage Program Updates Regarding USDA Loans, Conventional Loans and FHA Loans
FHA Back to Work Program: Buying a Home after Foreclosure or Bankruptcy The Federal Housing Administration (FHA) has announced a program that allows a borrower to buy a home sooner after foreclosure, bankruptcy, deed-in-lieu, or short-sale. This new FHA program is called The Back to Work Program. This is an extension of the current FHA… Read more »
TOP VA LOAN QUESTIONS FOR U.S. HOMEOWNERS
After serving your country you may be entitle to many benefits including the VA home for a new home purchase, refinance or even a Cash-Out Refinance. What is a VA home loan? According to http://www.benefits.va.gov/homeloans/, “VA helps Service members, Veterans, and eligible surviving spouses become homeowners. As part of our mission to serve you, we… Read more »
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