Pat Cray

Need to Discuss – How to Refinance Your Adjustable-rate Mortgage with Better Terms

May 24, 2016 by · Leave a Comment

An adjustable-rate mortgage was once a great mortgage product, at a time when home buyers wanted to avoid locking in high interest rates. But with historically low interest rates now available to millions of buyers and rates expected to rise in 2017, lots of mortgage holders are trying to find a deal and negotiate better terms before rates go up. One great way to save on mortgage costs is to refinance your adjustable-rate mortgage.

So how can you make a mortgage refinance work for you? Here are a few tactics you can use to get better terms through a refinance on your adjustable-rate mortgage.

How Are Mortgage Rates Determined?

May 19, 2016 by · Leave a Comment

If you’ve been paying attention to the mortgage rate news, you may be wondering exactly how it is banks decide what mortgage rates to offer. Do they just pick a number at random? Mortgage rates may seem somewhat arbitrary, but there’s actually something of a science to them.

So how does your bank or lender determine what your interest rate will be? Here are just some of the factors that go into the equation.

5 Uncommon Mortgage Terms You Need to Know

May 12, 2016 by · Leave a Comment

When it comes to finding a new home, there are lots of complex ratios, terms, and contracts that you’ll encounter – and at times, it’ll feel like you’re trying to navigate a minefield. If you’re not careful, you may find yourself signing on for a mortgage that doesn’t suit your needs – or one that could financially ruin you. Here are five mortgage terms you may not encounter regularly that you’ll need to know when buying a home.

How to Smartly Leverage Your Home Equity

May 11, 2016 by · Leave a Comment

So you’ve been a homeowner for some time. You’ve been faithfully paying off your mortgage for years, and you have a fair bit of equity built up in your home – and that makes you proud. But now, you’re wondering what good equity is if you’re not using it.

How do you actually use home equity? And how do you leverage it to get a high return for low risk? Here are just a few options you may want to consider if you’re looking for something to do with your equity.

A Quick and Easy Guide to Hiring the Best Contractor for Your Pre-Sale Home Renovations

May 6, 2016 by · Leave a Comment

If you’re planning to complete some renovations on your home before putting it on the market, you may be unsure of the best way to go about finding the right contractor for the job. Here’s how you can get to the bottom of who will work the best for you.

When is Refinancing Not a Good Idea?

May 4, 2016 by · Leave a Comment

Refinancing your home can be a great way to reduce monthly mortgage payments or interest rates – or even pay off your debt faster. And while it is a useful tool in budgeting for millions of homeowners, a home refinance may not necessarily be useful in every situation – in fact, there are some situations where refinancing can cost you a great deal of money.

So when should you skip the refinance and simply keep with the original plan? Here’s what you need to know.

How to Lower Your Mortgage Interest Rate

May 3, 2016 by · Leave a Comment

Mortgage interest rates are at historical lows right now, but they’re expected to start rising soon. That’s why savvy buyers are taking steps to ensure they get the best possible interest rates on the market and then lock those rates in for the long term. But even if interest rates are already low, that doesn’t mean you can’t reduce them further.

So how can you save even more money on your monthly interest payments? Here’s what you need to know.

The HARP Refinance Program Has Been Extended into 2016: Here’s How You Can Take Advantage

April 28, 2016 by · Leave a Comment

With the Home Affordable Refinancing Program recently being extended until the last day of December, 2016, many homeowners who have found their assets in a challenging situation have been given a second chance to apply and receive an affordable mortgage.

You Ask, We Answer: 5 Ways That You Can Proactively Build and Improve Your Credit Score

April 26, 2016 by · Leave a Comment

If you’re planning to buy a house or take out a business loan in the near future, you’ll want to work hard to boost your credit score well ahead of time in order to improve your likelihood of getting the loan you need. But what can you do in order to build your credit score over time? Here’s what you need to know.

Understanding the CFPB’s New Mortgage Rules and How They Might Affect You

April 19, 2016 by · Leave a Comment

The CFPB has several regulations that mortgage lenders need to follow, some of which have only recently come into effect. So how do the CFPB’s new mortgage rules affect you? Here’s what you need to know.

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