October

October 30, 2017

Consider these items for mortgage refinance, San Jose, CA

Mortgage refinance, San Jose, CA is one of the biggest decisions a homeowner can make; thus, it is essential that all of the important considerations are taken into account before accepting any deal from a mortgage company. But what are the factors to consider to make sure that the decision you make works on your favor? Here are some items to consider for mortgage refinance, San Jose, CA: The interest rates. Are the interest rates in downward trend? Then it could be the best time to refinance a mortgage. The authority (the White House, specifically) has stated that the average homeowner could save USD 3,000 on a yearly basis by refinancing their mortgage. With that savings, refinancing is indeed a thing to consider. Be reminded, however, that you should make sure that you get a steal of a deal before finally accepting any offer. Your credit score. If your credit score has gone up or has improved lately, you can take advantage of that to qualify for great deals on mortgage; that is true even if the mortgage rates have not gone down. If truth be told, current mortgage rates can vary by as much as 1.5% based on your credit score. To cite an example, on a USD 300,000 mortgage, a 1.5% higher mortgage rate due to a poor credit score could translate to additional USD 250 monthly mortgage payment; the opposite is also true. (Try using myFico’s mortgage savings calculator to get more idea on this) Converting an […]
October 30, 2017

When to consider mortgage refinance, Miami, FL

Mortgage refinance, Miami, FL is one of the biggest decisions homeowners can make; thus, it is imperative that all of the important considerations are taken into account before accepting any deal from a mortgage company. But what are these considerations? What are the factors to consider to ensure that decision you make works in your favor? Consider a mortgage refinance, Miami, FL, when: The interest rates have gone down. According to the authority (the White House, specifically), the average homeowner could save USD 3,000 annually by refinancing their mortgage. With that savings, refinancing is indeed a thing to consider. But, homeowners should make sure that they get a steal of a deal. Your credit score is a lot better now than before (or has improved significantly from your previous one). If your credit score has gone up, you can take advantage of that to qualify for a lower payment on mortgage; that is true even if the mortgage rates have not gone down. The reality is, current mortgage rates can vary by as much as 1.5% based on your credit score. As for example, on a USD 300,000 mortgage, a 1.5% higher mortgage rate due to a poor credit score could translate to additional USD 250 monthly mortgage payment. (Try using myFico’s mortgage savings calculator to figure out the example given) Converting an ARM to a fixed rate mortgage. This is another yet a good reason to refinance a mortgage. This is specifically applicable when the interest rates on mortgage […]
October 30, 2017

What to consider for mortgage refinance, Austin, TX

Mortgage refinance Austin, TX is one of the biggest decisions homeowners can make; thus, it is imperative that all of the important considerations are taken into account before accepting any deal from a mortgage company. But what are these considerations? What are the factors to consider to ensure that the decision you make is favorable to you? Here some of the things to consider for mortgage refinance, Austin, TX: The interest rates have gone down. According to the authority (the White House, specifically), the average homeowner could save USD 3,000 annually by refinancing their mortgage. With that savings, refinancing is indeed a thing to consider. However, homeowners should make sure that they get a steal of a deal i.e. a significant drop in mortgage rates. You have a good credit score (or has improved significantly from your previous one). If your credit score has gone up, you can take advantage of that to qualify for a lower rate on mortgage. Current mortgage rates can vary by as much as 1.5% based on your credit score. For instance, on a USD 300,000 mortgage, a 1.5% higher mortgage rate due to a poor credit score could translate to additional USD 250 monthly mortgage payment. (Try it using myFico’s mortgage savings calculator) Converting an ARM to a fixed rate mortgage. This is another yet a compelling reason to refinance a mortgage. This is particularly applicable when the interest rates on mortgage are expected to rise in the near future/in the coming years. In […]