December 19, 2017

When NOT to consider home refinance, Austin, TX

Home refinancing is one of the most important decisions you could ever make in your entire life. That is because the decision you make will have an effect in your life in the long run, which could be, of course, either a negative or a positive one. With that said, it is a must that you are careful in making such decision by taking into account various consideration before you decide on home refinance, Austin, TX. So, when NOT to consider home refinancing? When your credit score isn’t that good. This will impact negatively on mortgage rates. In other words, the chances that you get better deals on home refinancing are quite low; you get higher interest rates, or worse, your application gets denied. Solution: Improve your credit score by eliminating credit card balances and paying bills on time. When you do not intend to stay in the house. If you are planning to put your home up for sale in the next five years, then it isn’t that a good idea to home refinance, Austin, TX. Doing so will most likely put your time and money into waste. When you sell your home too soon after refinancing means that you will not live in that home long enough to get the savings benefits of lower interest rates. And, remember, you are going to owe some charges associated with the new loan. When you are switching to an ARM (Adjustable-rate mortgage). Just because ARM rates guarantee a low rate for […]
December 19, 2017

VA loans, VA loans Los Angeles

When we buy something, we want to get the best deal possible most especially if it involves some serious amount of money. This is true when it comes to shopping for VA loan– a mortgage loan program for American veterans, men in uniform currently serving the U.S military, as well as reservists and select surviving spouses who do not remarry. With lots of information about VA loans, Los Angeles, online, chances are that you are going to get overwhelmed with such information, leaving you having a hard time to figure out what strategy you should employ to get the best deal in the market. To help you get the best deals on VA loans, Los Angeles, work on the following: Raise your credit score. The simple logic behind this is that conventional lenders charge higher interest rates on low credit scores. So, what do you do? Improve your credit score and some things you can do to realize that goal include: (1) eliminating credit card balances and (2) paying bills on time. Decide how long you’ll keep the loan. The period or the length of time you intend to keep the loan plays an essential role on your mortgage selection. But here’s the rule of thumb: the shorter the period, the lower the interest rates you pay. In fact, you can get a difference of about USD 250 a month by just choosing the right loan terms. Make a larger down payment. By making a larger down payment, you can […]