two black and wooden houses on a large green lawn with bright blue sky and green trees With rates this low, $4 to $5 trillion of mortgages are now eligible for refinancing.

    This is more than twice the mortgage industry’s annual capacity and rates look to stay low for some time.

    Because refis are now such a hot topic and will continue to be for months (if not years), we recently added many additional “Refinancing FAQs” to our website.

    This was necessary to alleviate a lot of confusion about numerous topics that come up with every refi.

    We encourage readers to share these Refinancing FAQs with their clients, friends and family, as the FAQs will make the refi process much less confusing and less stressful.

    Here are just a few of the key FAQs with hyperlinks to the answers:

    When does it make sense to refinance?

    I am in forbearance; can I still refinance?

    I am 5 years into my current loan and don’t want to “start over” with my 30-year amortization; should I still refinance?

    Do I get to skip a mortgage payment when I refinance?

    What is a “no cost” refinance?

    What is cash to close? (IMPORTANT!)

    Can I refinance with no money out of pocket and roll my closing costs into my new loan?

    Is “no money out of pocket” the same as a “no cost” loan?

    How long will it take to close my refinance?

    Why is my mortgage payoff amount so much larger than my current principal balance?

    Another lender is quoting me a rate he cannot lock until my loan is approved. Can you match the rate? How do I know your rates are competitive?

    Jay Voorhees
    Founder/Broker | JVM Lending
    (855) 855-4491 | DRE# 1197176, NMLS# 310167

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