RefinanceFeatured March 25 2019

5 Steps to Kickstart Your Mortgage Refinance

Ready to refinance your home, but don’t know where to start? Buying your home is the first step in homeownership, but down the road, you may get the opportunity to refinance your home in order to decrease your mortgage payment. Here are 5 necessary steps to getting started!

1. Make Your Move

Determine the reasons for refinancing, what your end goal will be and get started. “If you’re thinking about refinancing, now probably is the time to do it,” advises Lauren Cole, a certified financial planner at Consumer Report. She believes it’s best to get your refinance application in quickly and to stay connected, “If you’re not in the pipeline ready to go when the interest rates start moving down, all of a sudden you have to get in the back of the line, and often times you miss the dip in the rates,” says Cole.

2. Prepare Your Credit Score

Check your credit history and get your credit score. Try to strengthen your score in the months leading up to the discussion with your lender.

The higher your credit score is, the more options you will have. If your credit score isn’t up to par, don’t give up, Home Buyer Solutions Group (HBSG) offers credit advice at zero-cost.

3. Decide Which Loan Works for You

Consider the term length, payment method, and interest rate. Discover the different paths to refinancing and find the mortgage rate that will benefit you and your wallet.

4. Gather Your Information and Lock in Your Rate

Gather all the necessary financial documents and make sure your lender has everything he or she needs to lock in your rate before it changes.

5. Get Ready to Close

As you reach the point of closing, you may have the option to pay points on your mortgage, which represent 1% of your loan amount. Paying points may allow you to permanently lower your interest rate. Finally, review your information and gather the necessary cash for closing costs, such as property taxes, insurance, and other fees. So what are you waiting for?

Get Started on Your Refinance Today
 
 

Sources: www.nerdwallet.com (1) www.nerdwallet.com (2)

Search Results for query

August 09 2019

How Credit Impacts Home Pricing

Your credit will influence your homebuying experience, from setting your sights on a home to securing a loan and everything in between. But how exactly does credit affect home pricing?

 

Read More

July 31 2019

Your Reverse Mortgage Questions, Answered

If you are 62 years of age or older, could use a cash infusion and have a large amount of equity in your home, a Reverse Mortgage may be just the financial tool you have been looking for. Essentially, your mortgage now pays you (instead of vice versa) and you...

Read More

July 24 2019

Benefits of Downsizing: Money

The average size of homes is decreasing as the number of homeowners deciding to downsize increases. A smaller home could mean big financial benefits.

Read More

July 19 2019

Benefit of Downsizing: Less Maintenance

If you're thinking of downsizing your home, less maintenance could bring you big benefits.

Read More

July 11 2019

Family, Friends, & Fulfilling the Dream of Homeownership

The prospect of coming up with a down payment for a home can feel downright scary, but luckily there are plenty of options out there! 

Read More

June 25 2019

The Modern Digital Mortgage Application

Technology has changed the way we live our lives. The way we connect, stay in touch, travel, and shop. And now it’s changing the home financing, too! Get pre-qualified for a home loan faster and easier than ever before – from any device, anywhere...

Read More

June 17 2019

Looking for a mortgage with flexibility?

Qualifying for a mortgage is now easier than ever before! If you have less-than-perfect credit or are carrying some higher debt, you may still qualify for a home loan with Eagle Home Mortgage’s new flexible financing option.

Read More

June 11 2019

Mortgage Rates are Trending Downward

Mortgage rates are constantly changing, but they have remained low for quite some time now. If you’re in the market for mortgage financing, it may make sense to go ahead and get pre-qualified now!

Read More

May 31 2019

What is Escrow?

When you’re buying a home, you’ll hear the word escrow multiple times throughout the process! The meaning varies slightly, but all of the variations have to do with funds being set aside for your home.

Read More

12345Last

Mortgage Calculators

Crunch the Numbers With Our Helpful Mortgage Calculators

Payment Calculator

payment calculator

Payment
Calculator

Affordability Calculator

affordability calculator

Affordability
Calculator

Refinance Calculator

refinance calculator

Refinance
Calculator

The Modern Digital Mortgage with a Personal Touch

Paperless. Effortless. Awesomeness TM

Simplify the home financing process with our Digital Mortgage. We'll be here to help navigate you through the entire process.

Get Pre-qualifiedWhat is a Digital Mortgage?