This is good news finally some good news for those of you who are current on your mortgage and are upside down in your value and would like to take place in the low current mortgage rates, but never were able to because you simply owed more than your house was worth,.. well finally, this is for you. I’m Tylor More your Arizona Mortgage Man with your tip of the week! There have been a number of Gov’t Housing Programs that have well simply failed to gain traction against the housing depression. Now there is a new Program being pushed by State and Federal Officials a program that would allow people that are up to date on their mortgages to get a new loan at today’s record setting low interest rates. Could it work, well we shall see but at least we are headed in the right direction with this program. Most of the major banks are already on board with this program and are adjusting the following: Lower Fees, Lower Rates and Lower Requirements…. This has the potential to be a HUGE Win for those paying their mortgages on time with good credit. We will know more as time goes it is said that this program will take effect November 15th So stay tuned and follow me. facebook.com/BestArizonaMortgage linkedin.com/in/tylormore Google+ tylormore
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ho-me-refinancing.com — Take Advantage on the Right Time When is the right time for home mortgage refinance? Generally, when the interest rate is lower than your current one, And when you think you will be in the home long enough to offset the cost of the refinance With the money you will save each month on your refinance. You have to pay closing cost each time you refinance. Determine the total cost of your refinance. It is not enough you only know how much you are going to pay monthly. These costs may include application fees, credit report, origination fees, and appraisal fees. In general the key of taking advantage of home mortgage refinance is The closing fees should not exceed the amount of money that you will save over the long run. Everyone have a different financial situation and there are many reasons to refinance in every situation. For instance, if you are making considerably more money since purchasing your home, You might consider refinancing for a better interest rate Or to pay off your debts earlier with a new home mortgage refinance loan. There are many advantages of home mortgage refinance. Such as • Tax-deductible Debt Consolidation • Lower Mortgage Payments • Lower Mortgage Interest Rates • Switch to a More Advantageous Term Length If you have decided to take a home mortgage refinance.Always talk to your present lender before looking for another lender.This will definitely cut the time of processing your application, as they already have your records …
best-refinance-home-mortgage-loan-rates.com “you will never make money.. faster than around a negotiating table” This is true for saving money too, when it comes to home loans or mortgages. When people (new buyers) come to the banks and lenders they come without any ‘power’ to leverage the other side need for a deal too. Homebuyers come weak and “beg” for the loan officer or mortgage broker to give them a mortgage at the best rates.. While its the loan broker who needs the deal too.. if you do not close.. he gets no fees.. In this short movie you will get tips on how to save money while negotiation with the bank. The tips are short and simple. You need to do them with every business encounter. You can save hundreds of dollars this way. Mortgage closing costs and fees, can sum up to a big cash payment.. you can reduce this by negotiating. When you negotiate you show you have other alternative, when you show the bank you are in a position to choose you have the ‘power’ (even when you don’t have other options..)
www.lendinguniverse.com funny situation. and others up-to-date videos on lending and money issues in our economy. Save money on your payments and lower your interest rate and or get cash out. Lending Universe is setting new standards in the world of commercial and residential loans, mortgage…
My mortgage payment is 00 a month, my interest rate is 8.55%
I purchase the house in April 2007 for 5,000. I have 8,000 left on the loan. I call my mortgage company and they told me If I refinance before march 2009 I will get a pre-payment penalty for 00.
My mortgage is attach to libor, my credit score is around 630.
I was wondering should I take the hit with the 00 and save money or should I wait for march 2009.
I have check the calculators online and I saw my payment might drop. Please help any comments is appreciated.
Currently I owe ,000 on a house worth 0,000 at 6%. The mortgage is 0 and we pay an extra 0 every month.
Should I refinance to a 4.875% for a 3,000 loan (I would like some money to repair a part of my house). There are lots of refinance calculators on the internet but none of them tell you how much the "extra payment" will help. The cost of the refinance is ,500 and it would save us about /month which we would then add back in to the "extra payment" we make, so the mortgage would be 0 + 0 extra per month.
Thanks.
Thanks. The reason I don’t want a 15 year loan is because we are thinking of having a child soon and don’t want to be locked into that higher monthly rate. By paying extra we can stop if we need to.
Toni - I put 24% down so I’ve never had PMI. If you look the 103K is to keep to loan-to-value at under 80%.
I have inherited some money and I want to use it to pay down the debt on my house and to make the payments lower. Would it be better to pay the mortgage down 0K and then refinance the K balance or Should I refinance the 5K and put a downpayment of 0K? Maybe it would be the same difference, but I just wanted to make sure I am using this money in the best way. Thanks!
Hi,
I am in need of a "calculator" or set of calculator that helps me make a decision on my personal situation. Here is brief:
I am planning to refinance my house. Trying to decide 15 year mortgage vs 30 years. I have already completed about 4 years of mortgage.
Now here is dilemma:
If I do it for 15 years I save about 160K in additional interest payment. So that is a good news. However, it sets me up with 800$ per month extra in payment. Now, IF I go for 30 years ( which frees up 800$s ) — and if I consistently invest in stock/funds etc and assuming ( 6% on average return, 8% is too aggressive!! , OR I want to see various returns % ) and at the same time I save in taxes for additional 15 years. Which is better 160K I saved OR 30 year option.
Also, consider that after 15 years I would have freed up the whole mortgage payment so I could very well invest those money for additional 15 years. But then tax benefit for last 15 year would go away. Also, I might need to factor in inflation as well.
Any calculators on the market OR any direct help from the community would help me determine this ? I am just trying to do various What-IF scenarios to make up a decision.
Thanks
– Jignesh.
With the interest rates dropping I think I could really save some money every month on my mortgage if I refinance, but are banks hesitant to lend right now with the financial crisis? What are your thoughts? Thank you!