Monday, April 7th, 2008

Refinance FAQs: Frequently Asked Questions about Refinance Loans

What is refinance loan?
What is a cash-out refinance?
What’s the difference between refinance and second mortgage?
How do I know what my loan rate will be?
Will I have out of pocket costs when I refinance my loan?
Is there a Countrywide office near me?

What is a refinance loan?

A refinance loan replaces your existing mortgage with a new loan. Homeowners often choose to refinance to lower the interest rate on their loan, refinance to get cash and/or consolidate debt or maybe even change the terms of the loan from a 30 year to 15 year mortgage or from adjustable rate to fixed rate. (more…)

Monday, April 7th, 2008

Compare Your Mortgage Options: Refinance vs. Second Mortgage Loans

If you’re looking to refinance your mortgage for a lower rate or to get cash, or if you’re looking to tap into your available home equity, there are several different mortgage options to choose from. Learn about the difference between refinance and second mortgage loans to help make the right decision for your needs. (more…)

Monday, April 7th, 2008

Refinance Loan Interest Rates

hopping for a refinance loan usually involves comparing interest rates as well as the different types of mortgages. So before you start shopping for refinance loans, learn the basics behind interest rates and factors affecting your monthly payment. (more…)

Monday, April 7th, 2008

Do you know the difference between refinance loans and second mortgage loans?

Homeowners may use “refinance” and “second mortgage” interchangeably but they are very different home mortgage programs.

What is a refinance loan?

A refinance loan replaces your existing mortgage with a new loan, typically for a lower interest rate and monthly payment. Homeowners often choose to refinance to lower the interest rate on their loan, refinance to get cash and/or consolidate debt, change the terms of the loan from a 30 year to 15 year mortgage or from an adjustable to fixed rate. But whatever the reason for refinancing, this type of loan replaces a homeowner’s current mortgage with a new mortgage loan. (more…)

Monday, April 7th, 2008

Refinance Loans and Closing Costs

When you’re looking to refinance your mortgage, closing costs are part of the process, one way or the other. Closing costs refer to expenses incurred when you’re obtaining a loan. If you’re thinking of refinancing your loan, you may want to learn about the costs involved with refinancing your loan so you can make the right decision about the loan and long-term savings.

Overview of refinance closing costs

Typically, refinancing your loan will involve many of the same closing costs that you see when you’re obtaining a purchase loan. These costs include appraisal fee, application fee, taxes, etc. There are several ways to handle the closing costs related to refinancing your loan. (more…)

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