Month: November 2022

cash out refinance information

How Does a Cash-Out Refinance Work?

November 16, 2022

Is a Cash-Out Refinance the Right Mortgage Product for You?

Need extra money? Have at least 20% equity in your home? If you answered yes to these two questions, then you’re probably considering a cash-out refinance. But do you know how a cash-out refinance works?

Before you start applying for a cash-out refinance, you should learn all there is about it, so you can make the best decision for your current and future financial goals. Here’s everything you need to know about cash-out refinances, including how they work, their requirements, and more. more “How Does a Cash-Out Refinance Work?” …

bad reasons to refinance house

Are There Reasons Why Refinancing Your Mortgage Is a Bad Idea?

November 2, 2022

Is Refinancing a Mortgage Always the Right Idea?

After several years of historically low interest rates, 2022 saw the rates change direction. As you might expect, this sudden shift has more homeowners than ever wondering if now is the best time to refinance, or if the smarter move is to wait to see if the coming months bring a return to rates lower than six percent.

If you are thinking about refinancing, there are certain things you need to consider to help ensure that your refinance delivers the results you’re looking to achieve. Two of the most common things you need to think about are where your interest rate currently stands and how long you are planning on staying in the home after you refinance.

But perhaps even more importantly is the reason why you are refinancing. This is something that is often overlooked, but the truth is – not every reason is an ideal reason for refinancing a mortgage. Here are three of the most common “bad reasons” for refinancing. more “Are There Reasons Why Refinancing Your Mortgage Is a Bad Idea?” …