Yes. Obtaining a mortgage rate lock as soon as you have an accepted offer on a house (and find a rate you're comfortable with) can help guarantee a competitive rate and affordable monthly payments on your loan. A rate lock means that your lender will guarantee your agreed-upon rate, typi...
As you consider options for financing a home purchase or refinancing your existing mortgage, use the APRs in the table below as a guide. The lower your APR, the lower the overall cost of the loan. In addition to considering the cost, consider your long-term financial and housing goals. ...
Refinancing your mortgage when interest rates drop could make sense if it provides a tangible benefit; be it lower monthly payments or a shorter loan term. Determining whether now is theright time to refinanceyour home loan involves a number of factors. Most experts say you should consider refi...
While housing economists and homebuyers have been waiting for mortgage rates to fall, those hopes suffered a setback last week, when the Labor Department said inflation is back up to 3 percent. Stubbornly high inflation means that rates are likely to stay higher for longer. The Federal Reserve ...
Mortgage interest rates may change many times every day. Choosing when to lock your interest rate is an important part of the home financing process.Learn more about interest rate lock options. Can I get a lower interest rate?Can I get a lower interest rate?
The first thing I’d suggest is thinking about what type of mortgage you're looking for—whether it’s for a new home or refinancing. Depending on your financial situation, you might need to consider different loan options, and if you're able to, offering a larger down payment can help ...
What is a 30-year fixed-rate mortgage? A loan used for purchasing or refinancing a home with an interest rate that never changes and a repayment term of thirty years. Why choose a 30-year fixed-rate mortgage (FRM)? Simplicity. Your interest rate (and the mortgage's principal and interest...
The first thing I’d suggest is thinking about what type of mortgage you're looking for—whether it’s for a new home or refinancing. Depending on your financial situation, you might need to consider different loan options, and if you're able to, offering a larger down payment can help ...
With a basic rate-and-term refinance, you take out a loan the same size as your existing mortgage, just with a new interest rate and/or loan term.The refinancing process will feel the same as securing your existing mortgage. You’ll need to choose a lender...
At Churchill Mortgage, we want you to get the Smarter Mortgage. It’s easy to get trapped into a mortgage that just doesn’t make sense for you. Getting the Smarter Mortgage plan keeps you engaged through the home buying (or refinancing) process and provides tools to better facilitate financ...