FHA Loan Cash-Out Refinance Guidelines Changing – For the Worse!
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If you’re looking for the best cash-out refinance option available in today’s mortgage market, look no further than the FHA loan. At Quicken Loans we call it the FHA Express, and it offers easy and quick refinancing choices.
Cash-Out Refinance With an FHA Loan
The top benefit of refinancing with an FHA loan is the very generous cash-out amount that FHA loans offer. Right now, that amount is 95% of your home’s value, Read more
Stimulus Bill to Push Refinance Volume 55 Percent Higher
The $800 billion stimulus bill signed into law last week will have a massive impact on refinance volume, but not so much on purchases, according to market research firm iEmergent.
The company, which provides mortgage volume forecasts, updated its 2009 forecast as a result of the bill, noting that purchase activity would increase slightly and refinance volume would jump 55 percent.
For 2009, iEmergent expects Read more
Refinance Activity Boosts Mortgage Application Volume
Just one week after sliding nearly 25 percent, mortgage application volume shot sharply higher, according to the latest survey from the MBA.
On a seasonally adjusted basis, home loan apps increased a whopping 45.7 percent for the week ending February 13.
On an unadjusted basis, apps jumped 47.7 percent compared to one week earlier, and were up 5.2 percent compared to the same week a year ago.
Refinance Share of Mortgage Apps Climbs Above 75 Percent
Refinance loan application volume increased another 6.5 percent last week, boosting its share of total activity to a whopping 76.9 percent from 74.3 percent a week earlier, the MBA said today.
The refinance share of total activity was as low as a third of application volume just a few months ago when interest rates were about two percentage points higher.
While home loan applications increased a marginal Read more
Lower Mortgage Rates Lead to a Bona Fide Refinance Boom
That’s right folks, you read that correctly. Right now, as a result of the lowest 30-year fixed-rate mortgage rates since 1971, we are officially in a refinance boom.
According to Marketwatch.com, “The benchmark 30-year fixed-rate mortgage tumbled to a national average 5.17% this week, the lowest level since Freddie Mac began its weekly rate survey in 1971.”
Good news for the economy. Good news for homeowners Read more
Texas Home Refinance Options
There are many reasons to refinance, but did you know that there are three different types of refinance mortgages. These include a Fixed-Rate Mortgage, an Adjustable-Rate Mortgage, and a Cash-Out Refinance. Texas mortgage refinance can provide you and your family with extra money and ease the tension that debt may be causing you.
Like shopping for a new home loan, it is also important to shop for a replicable refinance broker. It Read more