One of the bright spots of the pandemic and ensuing financial pain for homeowners is that they’ve been able to refinance their mortgages at record-low rates—and save quite a bit of cash. That’s about to change. Fannie Mae and Freddie Mac will be charging lenders a new fee on refinances that is likely be passed […]
The Top 10 Cities For A Cash Out Refinance
When professional cyclist Phil Gaimon saw that interest rates had dropped in early March, he decided to call his mortgage broker, pronto. By March 28, Gaimon, 34, had locked in a rate of 3.375% for the two-bedroom, two-bathroom townhouse he purchased in the Los Angeles neighborhood of Toluca Lake in 2014—nearly a whole point less than his […]
Can I Refinance While Buying a Second Home? – Here Are the Mortgage Rules
As a buyer and a seller, you may be asking, “Can I refinance while buying a second home?” Maybe you’ve found a property that will be a killer investment at a bargain price. Or perhaps the beach cottage you’ve had your eye on for years just came on the market. Whatever the reason, if you’re considering applying for […]