The situation is this. My wife and I bought a home b4 we had kids. she is now a stay-at-home mom and does not have a paying job. We want to refinance to lower the payments. Does the bank require a credit check on both spouses or is it normal that they only care about the one who has a job? Any mortgage professionals out there with the real answer? Really appreciate it. Thanks.
Current rate is 6.375% fixed
Current Payment is ,671.15 per month
Loan Amt: 2k
I have a BA-35 calculator, but can’t remember how to use it.
Current rate of ARM interest is 5.125%. Would it better to go for 6.75% mortgage refinance at no closing costs, if I am planning to live in the same house for next 7 to 10 years?
When you refinance your home with another mortgage company then the one you have know, who lets them know you’ve gone with another mortgage company? Are there penelties? We are in a sliding rate and are trying to get into a fixed rate. thanks!
I got a mortgage on 1/24/07. Bank said our first payment was due on 4/12. I have paid on time (early actually) every month and the first 2 months payments went entirely to interest. Every mortgage amortization calculator I’ve found says that SOMETHING should be applied to interest. When I called the bank (Wachovia), they said my interest is compounded daily.
Should I look to refinance somewhere else??
I’d like to know when it makes sense to refinance a 1st mortgage? What interest rate difference is worthwhile? And if you refi with same bank, can you negotiate the closing costs? Maybe say you will take your mortgage elsewhere?
I need to refinance my mortgage very soon. For the past 6 or so plus months my mail has been flooded daily with offers from various mortgage brokers or lenders offering me a deal of a lifetime. Many say they are offering me refinancing at no cost to me. This sounds a bit fishy, I doubt anyone is willing to help me at no costs. Is there any truths to these offers? I don’t want to waste time contacting these companies and filling out applications if they are not true. Any thoughts? Thanks !
I just bought a home last October. I signed a single 30 year mortgage for 280,000. My interest rate is 6.75%. I have only made 3 payments on this mortgage. With interest rates dropping when is a good time to refinance?
I am searching for the best mortgage calculators. Interest Only calculators and simple home mortgage calculators and loan calculators. I used the ones at http://www.1mortgagecalculator.net/index2.php and they seem pretty good. Just looking for comparisons.
I need to refinance my mortgage or get a new one if I decide to buy a new home. Which mortgage co. is safe and reliable?
