Sentences with phrase «better than our current mortgage»

They did find us a lower rate on a mortgage, but after closing costs and mortgage insurance it wasn't much better than our current mortgage — especially given that we may not be living here for more than a few years.

Not exact matches

At my current debt - to - income ratio I would never be approved for another mortgage at the moment, so I am not sure what I could do better with that 23k / yr than I already am.

This type of loan might make sense for you if you can get a better interest rate than that of your current mortgage, you plan to shorten the term of your loan instead of refinancing for 30 years, and you plan to keep your mortgage for at least several more years.

Here's a good rule of thumb: if the current interest rate is at least a half percent lower than the interest rate in your existing mortgage, then refinancing may be a good option for you.

You may find your current first mortgage rate is better than the current refinance rate available and you want to keep what you have.

When current mortgage rates are low, this can be a good option since your interest rate is likely to be lower than the interest rate you are currently paying.

If your mortgage is up for renewal, you owe it to yourself to find out how much better you can do than your current mortgage.

So if you're looking to buy a new home or refinance your current mortgage, the better option is likely to lock in a rate sooner rather than later.

This type of loan might make sense for you if you can get a better interest rate than that of your current mortgage, you plan to shorten the term of your loan instead of refinancing for 30 years, and you plan to keep your mortgage for at least several more years.

Depending on your current situation, getting a reverse mortgage might be a better option for you than a conventional loan.

An FHA Streamline Refinance is a good option to reduce mortgage costs for homeowners whose mortgage rate is higher than the current rate, or who owe more on their mortgage than their house is worth.

Second mortgages also are a better choice when your current mortgage interest rate is lower than those being offered by refinancing lenders.

At the current low mortgage interest rates, is it better to pay as much downpayment as one can afford, or pay 5 - 20 % and invest the rest, hoping for higher than 3.5 % returns?

It seems as though they are more likely to move higher than lower over the coming weeks so anyone looking to buy a home or refinance their current mortgage is probably going to be better... View Article

It seems as though they are more likely to move higher than lower over the coming weeks so anyone looking to buy a home or refinance their current mortgage is probably going to be better off locking in a rate soon.

Under the current tax code, mortgage interest on first and second homes is generally deductible as long as these loans total less than $ 1.1 million, making homeownership one of the best ways to trim your tax bill.

The best time to use this is when interest rates on the current mortgage are higher than those of a replacement loan.

If there is not much difference between your credit situation when you requested the mortgage loan and your current credit situation, or if your current situation is better, you'll probably be able get a refinance loan for a lower interest rate than your previous mortgage.

We'll continue the marine theme by pointing out that in spite of FHA's good intentions, its short refinance program is likely to function as an anchor rather than as lifesaver, tossed to drowning homeowners who can't refinance to current low mortgage rates.

First, if the rent is less than the current mortgage + property tax and maintenance, you will immediately have better cash flow each month, and over time, save towards the newer house.

It doesn't always make sense to break your mortgage, but a good rule of thumb is if interest rates are at least 0.50 % lower than your current mortgage rate, it's worth looking at refinancing.

While you do want a healthy balance of debt types, secured debt like a mortgage looks better on your credit score — provided you are current on your payments — than unsecured debt like credit cards.

Depending on your current situation, getting a reverse mortgage might be a better option for you than a conventional loan.

• FHA Streamline Refinance: If you owe more on your mortgage than your home is worth, or your current mortgage rate is higher than today's mortgage rate, then this is a good option for you.

Many will consider refinancing their mortgage to get a cash - out, but it may not be a good move, especially if their interest rate is lower than the current market rate.

In a few minutes, our pre-qualification process will tell you if MoFin can offer you a better rate and terms than your current mortgage.

The other concerns are also as he mentioned, getting a home mortgage depends on much more than just a great credit score, you also need good ratios on your front end (ALL housing expenses incl taxes, ins, etc) and back end ratios (ALL debt expenses, housing, credit cards, car, etc) so a good income is required, as well as a down payment of some sort (some programs go as low as 3.5 %, others still want 20 %) Assets can also figure in to this as well, but that's getting away from the bit I know about current lending standards and I don't want to start going off the wrong path here!

The Bureau understands that eliminating creditors» and mortgage brokers» ability to wait to provide a good faith estimate until after they receive «any other information deemed necessary» could increase the burden on creditors and mortgage brokers to the extent that it causes them to issue more Loan Estimates than they would under the current definition of application.