Tag Archive for: refi

What Is A Cash-Out Refinance In Texas?

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Homeowners in Texas continue to see an increase in home value and are now finding themselves with more equity in their homes. Many Texas homeowners are eligible to utilize a cash-out refinance to convert some of their equity into cash, but what exactly is s cash-out refinance?Read More

6 Reasons Why Refis Are SO MUCH EASIER Than Purchases

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We often see borrowers who are reluctant to refinance into a lower rate – even when the new loan will be “no cost” and save them hundreds of dollars every […]Read More

BEST NEWS EVER! Fannie And Freddie Eliminate “Adverse Market Fee;” Reduce Rates By 1/4%!

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I can think of many examples of things that would constitute “the best news ever.” Hearing “snow day/school canceled” announced on the radio when I was a kid on Western […]Read More

Student Loan Cash-Out Refinances

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Millennials are one of the largest demographics and have taken the housing market by storm. Millennials accounted for 38 percent of home purchases in 2020 and more than half of […]Read More

Fed Speaks – Rates Up; Paying Off Student Loans With Mortgage; Interest-Only Loans

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Fed Chair Powell spoke yesterday and sent the bond market into a tizzy, as investors sold off their bonds and pushed rates sharply higher. What crazy thing did Powell have […]Read More

What Credit Score Is Needed To Refinance A House?

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Credit scores play a significant role in determining what mortgage rate you qualify for when refinancing. There is no "one interest rate" that lenders quote each day because of the many factors that affect individual rates. Credit scores can drastically change the rate that lenders are able to quote borrowers for refinances.Read More

Rates Up Again! Why Nervous Appraisers Sometimes Appraise Lower Than We Expect

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RATES 3/8% HIGHER NOW Interest rates continue to climb in response to positive economic reports (strong retail and home sales numbers), inflation concerns relating to both price signals and massive […]Read More

Mortgage Rates Way UP; Refi Now… Or Forever Hold Your Peace

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Remember last year when I said rates could either go up, go down or stay the same? Well, I was right. 😊 OK – I was actually right about the […]Read More

Are Home Equity Loans Tax Deductible?

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Homeowners cannot claim tax deductions on home equity loans in some cases. However, they can still benefit from cash-out refinancing programs to use the equity they've accrued in their homes. The Tax Cuts and Jobs Act, signed by President Trump in December 2017, introduced this change. Interest paid on home equity loans is no longer tax-deductible, although there is one exception. The IRS clarified that deductions are allowed if homeowners use the loan to "buy, build or substantially improve" the property the equity is coming from.Read More

Why Rocket/Quicken Did Not Disclose Percentage of Purchases vs Refis

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I read yesterday that Rocket (parent company of Quicken) did not disclose its percentage of purchases (relative to refis) in its earnings release for Q3. I found that fascinating b/c […]Read More

Negative Rates Are Coming; What It Means For Real Estate And Mortgages

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Negative interest rates are heading our way – with certainty – according to Luke Gromen, a macroeconomist who was featured on The Investor’s Podcast recently. Mr. Gromen believes that the […]Read More

Fannie Mae Re-Slams Mortgage Industry With 1/2 Point Refi Fee

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In August, I blogged about Fannie Mae Slamming Refi Borrowers With A New 1/2 Point Fee. And then later in August, I blogged about Fannie Mae Yanking Its 1/2 Point […]Read More

Fannie Mae’s New 50 Basis Point Fee Slams Refinance Borrowers

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As I mentioned yesterday, Fannie Mae and Freddie Mac imposed a new fee of 1/2 point, or 50 basis points, on all refinance loans – catching the entire mortgage world […]Read More

Explaining The Basics of Refinancing A Mortgage

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There are many possible benefits to refinancing your home mortgage. You may have heard from friends or neighbors who have already refinanced about some of the various advantages connected to refinancing your mortgage. For instance, refinancing can lead to a lower mortgage payment, a quicker timeline for paying off your mortgage, a lower interest rate, among other benefits. If this is your first time refinancing, you may be unsure of what to expect, so we've outlined the basics.Read More