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Refinance

Should You Refinance to a Shorter-Term Loan?
Should You Refinance to a Shorter-Term Loan? 1024 683 gregkingsbury

New homebuyers often choose to take out longer term mortgages such as a 30 year term mortgage on their new homes due to the security and peace of mind that a consistent monthly mortgage payment provides. However, a 30 year term can be really long…

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Appraisal Methods
Appraisal Methods 689 460 gregkingsbury

When you’re buying a home using a mortgage, refinancing your existing mortgage or selling your home to anyone other than an all-cash buyer, the home appraisal is a key component of the transaction. Whether you’re a buyer, owner or seller, you’ll want to understand how…

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What’s the Point?
What’s the Point? 628 419 gregkingsbury

Your financial house is in order and you’re ready to make your dream of homeownership a reality. Now it’s time to get a mortgage. So what are these so called “points” and is there a point in paying them? A “point” equals one percent of…

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Pen Pals with Your Mortgage Lender?
Pen Pals with Your Mortgage Lender? 628 419 gregkingsbury

According to a piece in the Wall Street Journal, it is a common practice for underwriters to reach out to borrowers asking for letters of explanation sometimes referred to as “comfort letters” to firm up mushy spots in their knowledge of borrowers’ situations. These letters…

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Understanding Cash-Out Refinances
Understanding Cash-Out Refinances 1024 683 gregkingsbury

If you’ve built up significant equity through your monthly payments and your home’s appreciation, a cash-out refinance may make sense to improve your general financial situation or the value of your home. With a cash-out refinance, you’re refinancing your mortgage for more than you currently…

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Things to Remember
Things to Remember 1024 683 gregkingsbury

The are many factors that can change your ability to qualify for a mortgage. It’s important to follow these guidelines until your loan is closed. Do Pay all your monthly bills on time Keep track of all your bank deposits and statements Find and organize…

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Deciding Whether to Refinance
Deciding Whether to Refinance 1024 683 gregkingsbury

During the term of your mortgage, you may want to refinance to meet a variety of personal and financial goals. Refinancing will completely replace your current mortgage with a new loan that provides you with a new term, rate, and monthly payment. There are two…

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