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Home Refinancing

Refinancing

P. Eoche/Getty Images A cash-out refinance is another option homeowners can consider when they are seeking additional money for renovations or to pay down their debt. A cash-out refinance is when a consumer refinances a mortgage into a new one that has a larger amount. The difference...
Artur Debat/Getty Images The average interest for 30-year fixed-rate mortgages is nearing 4 percent again, ushering the way for millions more homeowners to save money by refinancing. The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans...
Douglas Keister/Getty Images For nearly ten years, the Home Affordable Refinance Program (HARP) helped underwater homeowners refinance to lower rates, save money and build equity in their homes. Although the HARP mortgage program ended in 2018, two new federally-backed initiatives for high loan-to-value (LTV) ratio mortgages offer...
Lisa J. Goodman/Getty Images Buying a home is a major milestone, but it’s not the end of the journey. You might decide to refinance your mortgage in a few years or even later. Here’s how to do that and what to expect. What is mortgage refinancing? Refinancing a...
Douglas Keister/Getty Images For nearly ten years, the Home Affordable Refinance Program (HARP) helped underwater homeowners refinance to lower rates, save money and build equity in their homes. Although the HARP mortgage program ended in 2018, two new federally-backed initiatives for high loan-to-value (LTV) ratio mortgages offer...
Doug Menuez/Getty Images A cash-out refinance allows you to shake some money out of your home’s equity by borrowing more than you owe. It’s a popular move. More than half of homeowners who refinanced during the first quarter of 2017 cashed out some equity, according to a...
Lisa J. Goodman/Getty Images Buying a home is a major milestone, but it’s not the end of the journey. You might decide to refinance your mortgage in a few years or even later. Here’s how to do that and what to expect. What is mortgage refinancing? Refinancing a...
P. Eoche/Getty Images When you refinance your mortgage, you get a new mortgage to replace the current one. And if you have enough equity in your home, you can do a cash-out refinance.What is a cash-out refinance?A cash-out refinance is when you refinance your mortgage for more...
Alexander Spatari/Getty Images In many areas, anyone who’s tried to purchase a home recently knows the pain of the supply shortage. Housing inventory is down and prices are up nationwide. In expensive markets, like San Jose, Los Angeles and Seattle, the competition can be fierce. Cash...
Stephen W. Morris/Getty Images Refinancing from a 30-year, fixed-rate mortgage into a 15-year fixed loan can help you pay down your mortgage faster, especially if interest rates have fallen since you bought your home. A lower interest rate means more of your payments will go toward the...