cost

One primary requirement for any HECM refinance is meeting the refinance benefit factor. Simply put, your benefit from the refinancing should be five times more than the costs associated with the refinance. Refinancing your existing Home Equity Conversion Mortgage can be costly and would thus not make sense if these costs outweigh the benefits. So, let’s go over the pertinent costs and fees associated with an ...

You hear that you have the option to get a “no closing cost” loan. You immediately, think “Sign me up!” Who wouldn’t want to save thousands of dollars on their refinance? But, before you do, there are some considerations you must make. While the name makes it seem like the loan does not cost you, in reality, it does. We show you how below. Get Matched with a Lender, Click Here. HOW LENDERS OFFER A “...

Finding a home that is perfect for you can feel like searching for a needle in a haystack. You might find homes with some features you love, but others that you hate. Do you have to sacrifice? The answer isn’t as cut and dry as you would hope. Honestly, it is a personal decision. You have the option to start from scratch with your own home; however, the cost to build a home can get quite high. The national av...

Buying a home comes with costs that you need to prepare for. Every home buyer should save more than enough funds in order to cover out-of-pocket fees that come with home buying a home. It’s true, there are low- to no- down payment mortgage options for low-income earners who dream of becoming homeowners sometime soon. A lot of first-time and repeat homebuyers wish to qualify for these programs. However, it...

Most lenders don’t require a home inspection, but it’s highly recommended so that you know what you are buying. Just because your lender requires an appraisal, doesn’t mean you’ll know if something is wrong with the home. The appraiser’s job is to determine the home’s value to allow the lender to determine if there’s enough collateral to make a loan. The appraiser doesn’t check every nook and cr...

So you’re uprooting your life, moving out of your lair to reboot your life somewhere else. It sounds dramatic, but in reality, moving could be less of a drama and more of a headache. Indeed, there are things to keep in mind before your move-in day. For starters, you need to figure out what kind of help you need. If you have access to a truck and some generous friends, you can opt for a DIY move. But if you ar...

If you have a VA loan and you want to refinance it, you have a few options. If you want to stick with a VA loan, you can refinance with the VA IRRRL (streamline refinance program) or the VA cash-out program. The VA cash-out loan allows you to take money out of the equity of your home – up to 100%! Compare Offers from Several Mortgage Lenders. But what’s the cost to refinance? You know that the VA limited th...

Before you can close on a mortgage, you have to lock in the interest rate. No matter how hesitant you are, at some point you have to be willing to lock it or you can’t close on the loan. Just what is that rate lock going to cost you? Looking for Current Mortgage Interest Rates? Click Here. Keep reading to find out. WHEN SHOULD YOU LOCK YOUR INTEREST RATE? The bigger question here is probably when should you l...