How Long Should You Wait Before Refinancing?

It’s been about 7 months since we last refinanced, and we’re at it again. Last March we locked in at 5.00% on a 30 year mortgage. Back then you could get a 15 year loan for about 4.75%. While we could afford the 15 year payments, we didn’t think it was worth it to lock into the higher payment for a reduction of only .25%. About 2 weeks ago, loans were again at multi-year lows (I... 

Reduced Title Insurance Fee when Refinancing

There are plenty of fees and charges when you refinance your mortgage. It’s a little overwhelming when you start seeing all those numbers added up. As a homeowner, you want to examine each cost and see if there is anything you can do to eliminate, or reduce it. Title insurance is one of those fees that you can do something about. What is Title Insurance? Title insurance is protection from claims... 

Refinancing to a 4.8% FHA

We are finally refinancing! Jocie and I have spoken with several brokers, and explored a lot of options, but we are finally refinancing. We haven’t signed the papers yet but that’s really the only thing left to complete. You may have read my posts about the benefits of FHA loans or insights from a home appraiser. These post basically follow my process through the maze that is refinancing... 

Refinance with High Combined LTV Ratio

In keeping with the refinance theme…. I’m still trying to refinance my mortgage. My most recent obstacle is a poor Loan-to-Value (LTV) ratio. With the failing economy, my home is worth about 10K – 15K less than when we purchased. That ups my combined LTV ratio to about 90%! But, I spoke with a different loan officer today and am optimistic about still being able to take advantage... 

Barriers and Problems Refinancing a Home Mortgage in 2009

My quest to refinance my home mortgage continues. Rates are around 5.00% with no points for a 30 year fixed, last I checked. The biggest barrier home owners face (and that I am facing) is that falling home values make it difficult to meet minimum qualifications.  Even with a solid credit report and score, it is difficult to qualify for a loan. Loan to Value Ratio (LTV) Loan to Value ratio is a ratio... 

Refinancing My Mortgage: Starting the Process

I’m still going through the process of refinancing my mortgage. At this point, I’m hunting around trying to find a good rate, without huge closing costs. As this is my first home and first mortgage, I’m also learning about the whole refinance process. Necessary Information to Refinance My first question about refinancing was what kind of information do I need. Here is what I’ve... 

Should We Refinance Our House?

We’ve been in our house about 2 years.  We bought just at the end of 2005 and locked in a decent 5.75% interest rate on a $250,000 fixed 30-year loan.  Just after we locked in, rates started to climb, ultimately rising into the high sixes about 12 months later.  We timed the market pretty well with respect to rates.  In fact, when we closed on the house about 45 days after lock-in, the...