Faq -
To remove a borrower in a divorce/partnership situation
Removing a person from an existing loan in the situation of divorce or dissolution of an investment property partnership remains a difficult proposition without refinancing. Refinancing is a solution in these situations, but the decision to do so is not typically made with a reduction in rate being the primary objective. Although it’s not bad […]
To consolidate a first and second mortgage into a single loan
Often people will be in a situation where they have an ok rate on their first mortgage and a very high rate on their second mortgage. Sometimes it makes sense to consolidate the first and second mortgage into a single loan with a low fixed rate. This all depends on the interest that you are […]
To remove mortgage insurance
With FHA changing their guidelines to require mortgage insurance on their 30 year fixed loans for the life of the loan, this has brought removing mortgage insurance to the forefront. Whether to refinance or not to refinance…that is the question. The question of refinancing to get rid of mortgage insurance reverts back to the mantra […]
Switching from/to an ARM
This is less common than the other situations on this list, but it does come up on occasion. Choosing to do an adjustable rate mortgage (ARM) should really come down to how long you intend to live-in/keep the home. Many people decide to do an ARM because they don’t believe they will keep the home […]