by Mark Chaffee | Dec 8, 2020 | Mortgage Tips, Refinancing
As mortgage rates have dropped to amazing lows over recent months, many homeowners have been refinancing their mortgages to lower their monthly payments. However, without a plan on how to utilize this extra cash, it’s all too easy to simply spend away the difference....
by Mark Chaffee | Feb 25, 2020 | Mortgage Tips, Rate Information, Refinancing
At the start of February, mortgage interest rates dropped to their lowest since 2016.1 Most people know this is good news, but not everyone understands exactly how it may affect them. Here’s a short explanation of the two big ways you may be able to benefit from...
by Mark Chaffee | May 10, 2016 | Mortgage Tips, Rate Information, Refinancing, Uncategorized
The latest report from Freddie Mac shows that the 30-year fixed-rate mortgage averaged 3.61% last week, slightly down from the week before (3.66%), and nearly 20 points lower than a year ago (3.80%). This is great news for homebuyers who are dealing with rising prices...
by Mark Chaffee | Jun 20, 2015 | Refinancing
A refinanced mortgage represents a brand new debt and must be underwritten accordingly. As with a home purchase, there are three basic areas where a borrower is evaluated: Credit Score Income and Employment History Appraisal (loan to value) Types of Mortgage Refinance...
by Mark Chaffee | Jul 9, 2013 | Financial Fitness, Refinancing
If you missed the 30 year fixed rates in the 3’s, you may want to consider a 10/1 Arm or a 15 year fixed mortgage refinance. The current 10/1 Arm and 15 year fixed rates are both still in the high 3’s, and would allow for tremendous interest savings vs....
