Closing Costs and Prepaid Items you should expect at the closing table you’ll probably pay a variety of expenses as part of your closing costs, when you sit at the table for
Are You Giving Away Your Money
Act Now To Refinance Your Home Before Rates Rise(SOUTH CAROLINA) - There has never been a better time to refinance your home. That's because of a little-known government program called the
Home Affordable Refinance Plan (HARP). This allows Americans to refinance their homes at shockingly low rates, and reduce their payments by an average of $4,100 a year.
But here's the catch - like most government programs, this is likely temporary. Currently the program is set to expire on December 31, 2015. But the good news is, once you're in, you're in. If the thought of a lower payment or fewer years on your mortgage sounds appealing, the time to act is right now.
It's like a true middle-class stimulus packageThis is unknown to many, but the Home Affordable Program is for the middle class. If your mortgage is $625,500 or less (unless you live in a high-cost area then the loan limits may be higher), you most likely qualify. Basically, the Government wants banks to cut your rates, which puts more money in your pocket (which is good for the economy). However, the banks aren't too happy about this - here's why:
- You can shop several lenders, not just your current mortgage holder
- Your home's Loan-to-value (LTV) can be 80% to 125%
- The average monthly savings for most eligible Americans is $345. Can you use an extra $345 a month?
- Many homeowners not only save every month, but depending on their current rates, they can also shorten their term.
- Deferred payments - typically, one or two payments are skipped / deferred as well.
But how do you find these rates?Here's the answer - there are a few free websites out there that will compare mortgage rates for consumers, and allow them to choose the best one (that’s a great thing about the internet – it allows you to do business with lending institutions all over the country).
RateMarketplace, one of the country's largest and most respected mortgage refinance comparison shopping websites, is one of the few companies with HARP lenders on its network, and is currently assisting homeowners like you to obtain further information regarding superb mortgage rates.
With RateMarketplace there’s no obligation and their service is fast & easy. It takes about five minutes, and the service is 100% free. You have nothing to lose except money stress.
But you do have to act before rates rise.
information from: http://lifestylejournal.com/refinance/?xcode=77ddeafccc544b352d2cd330f0aafa364708ded5bc2444a4%2Ce893...
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