Tag: mortgage

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 »

Calculating MI Property Taxes

When shopping around for a home it is beneficial to check the cost of property taxes. Property Tax Overview: Property tax is a levy on property.  It is required to be paid by the owner annually based on the fiscal year. They are collected on a county level and each county has its own system… Read more »

It’s your first home, don’t let credit hold you back!

Credit is Crucial! When you start thinking of buying a home one of the first things you should do is check your credit score.  Contact a loan officer at Riverbank Finance to get a free credit report (or get an instant credit report online now).  If you find that you don’t have good credit, you… Read more »

Obama’s HARP 3.0 Proposal

The Home Affordable Refinance Program (HARP), which was originally proposed by President Obama, may be expanded for the third time.  The program has been in effect for a while now and it seems as if it may undergo yet another transformation to help additional homeowners refinance. Our previous blog post covered the transition to HARP… Read more »

Fed Rates to be Low Until 2014

The feds have just announced that they will be keeping the Federal Reserve rates low until 2014.  In the past they announced that rates would remain low until the middle of 2013, which helped the market confidence and ensures recovery.  The recovery has been present however it has not been as “booming” as economic analysts… Read more »

Obama Increasing Down Payment Required for a Mortgage

Thousands of people agree that the down payment for buying a home should be increased.  Today, if you are in the market to purchase a home you may not even need a down payment if you are able to qualify for a USDA Rural Housing Mortgage or VA Loan.  Most other qualified borrowers have the… Read more »