Reason #4 – You Were Hit Hard By The Housing Crash. In the aftermath of the Housing Crisis, the Government created the Home affordable refinance program (or HARP). It helps help people with little or no equity refinance their homes at a much better rate. And they’ve already helped 3.3.
Zero Down Mortgage Loans First Time Home Buyers Thousands line up for zero-down-payment, subprime mortgages – · Program offers mortgages with no down payment, low interest. In order to get the loan, they have to live in the home.. Quentin Carswell is a first-time homebuyer who tried to get a loan.
Whatever the reason, refinancing a home mortgage may be a good idea. Whether or not you take advantage of historically low mortgage rates on 30-year fixed-rate mortgages or take advantage of the best buyer’s market in a generation is up to you. The reasons to do so are clear and simple.
There are both good and bad reasons to refinance.. it’s important for a homeowner to determine whether his or her reason for refinancing offers a true benefit.. For that 30-year fixed-rate.
6/22/2017 · Reason to refinance: 4 million homeowners are leaving $1 billion on the table falling mortgage rates and rising home values are a tasty combination for.
One reason is that refinancing saves homeowners an average of $4,264/year. In fact, just last year almost 2,000,000 people refinanced their homes to the tune of $749 billion.. You should refinance your home to take advantage of historically low interest rates.
Q: If you have a fixed rate mortgage, why would you want to refinance if you plan to stay in the home for the duration of the mortgage? A: There are many reasons to refinance your 30-year or 15-year.
Best Mortgage Refinance Rates Today How to Get the Best Mortgage Refinance Rates — The Motley Fool – How can you get the best rates when refinancing your mortgage? Follow these steps to get a good deal on a refinance loan.
Your rate would be lower. One of the best reasons to refinance your home is to take advantage of a lower interest rate. There isn’t an all-encompassing rule about how much a percentage change in interest rates should occur before you refinance, it all comes down to what’s right for you.
Cash-out refinance: You liquidate some of your home’s equity, creating a new loan that consists of your previous mortgage balance plus the cash you took out. You can get a refinance from any mortgage lender you choose-it doesn’t have to be from your current lender..
Even though rates have already begun inching up, there are several reasons it’s smart to refinance your home now. And we mean now ! Reason No. 1: Rates are still climbing