Sentences with phrase «benefit by refinancing their mortgages»
In fact, one study shows that at least 5.2 million homebuyers could benefit by refinancing their mortgages, saving an average of $ 215 per month!
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The FHA guidelines state that a streamline refinance must provide a benefit to the borrower by either lowering the interest rate, or converting the loan from an adjustable - rate mortgage (ARM) to a fixed - rate.
By consulting with a PNC Mortgage loan officer, you can explore the various options for refinancing and the possible benefits.
The new benefit amount is calculated by taking the transferred coverage amount, divided by the total balance of your new refinanced mortgage.
WASHINGTON — Today, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to Kentucky FHA's Streamline Refinance Program that could benefit millions of borrowers whose Kentucky mortgages are currently insured by FHA.
And unlike a traditional mortgage, the government pays the cost of the refinancing, including closing costs, which should benefit the many homeowners who are held back by the inability to pay these costs up front.
However, some loans like mortgages and car loans will come with prepayment penalties, so the benefit of refinancing can be weakened by the cost of paying that extra charge.
Whether you're starting out with your first home or looking to save money by refinancing your current mortgage, Milestone Home Lending can help you sort through the process and take advantage of your military benefits.
According to the recent Mortgage Monitor Report released by Black Knight Financial Services, the number of borrowers who could both likely qualify for and benefit from a refinance increased by 30 %, or by 1.5 million.
Recently, Acting Federal Housing (FHA) Commissioner Carol Galante announced significant price cuts to FHA's Streamline Refinance Program that could benefit millions of borrowers whose mortgages are currently insured by FHA.
Harp Loan Eligibility: Freddie Mac and Fannie Mae have accepted modifications to the HARP (Home Affordable Refinance Program) and you may be eligible to benefit from the HARP Loan Program if your home mortgage is guaranteed or owned by Freddie Mac or Fannie Mae.