Article Archive August, 2006

Refinancing: What's the Right Amount for You?

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MortgageLoan.com | August 28, 2006

If money talks, then most homeowners wish those lovely little greenbacks would tell them exactly how much money they should borrow when refinancing a home. Unfortunately, your cash won't give you any hints about how big or small your mortgage loan should be. It's entirely up to you to figure it out. While the number of lending options on the market may appear confusing, there are some pretty straightforward ways to figure out what loan size is right for you.

Refinance with a fixed-rate interest only mortgage

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MortgageLoan.com | August 28, 2006

Rising interest rates tend to restrict the lending options of homeowners. When rates spike, 15- and 30- year loans become less attractive. Things get particularly bad when the gap between long-term and short-term rates narrows; this results in higher rates for Adjustable Rate Mortgages (ARMs), which are known for great introductory rates. With lending options limited, cash-strapped homeowners may turn to another option: The fixed-rate interest only mortgage.

Home Equity Loans in a Rising Interest-Rate Environment

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MortgageLoan.com | August 28, 2006

The recent rise in home values has created a tremendous boon in home equity, and homeowners are eager to tap it. However, the rise in interest rates makes a cash-out refinance of a first mortgage an unpalatable option. But there are choices for homeowners who can't wait for the next dip in interest rates to tap their equity. Using a home equity loan, or a home equity line of credit, might be the best way to tap equity in a rising rate environment.

Refinancing? Five Questions to Ask Your Mortgage Lender

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MortgageLoan.com | August 28, 2006

The Captain and Tennille, pop stars from the 70s, had a big hit with their catchy ditty "Shop Around." For homeowners who want to refinance, that song is just as applicable to picking a mortgage lender as it was to finding Mr. or Ms. Right. "Shop around" and you can find a great loan. By asking the right questions, you can find a new mortgage loan that's in-tune with your budget.