Using a fuzzy regression discontinuity design, we show a jump in mortgage interest rates precisely at the HARP eligibility threshold. Our results suggest that limiting competition raised interest rates on 30-year fixed-rate mortgages by 15 to 20 basis points, translating into higher lender profits....
Provided you qualify for a lower interest rate, there’s a good chance you could save by refinancing your mobile or manufactured home—even when the upfront costs are considered. Not sure whether you’d qualify? You can contact a mortgage lender to check your mobile home refinance eligibility...
Check your refinance eligibility. Start here As your finances improve, you’ll likely have access to better mortgage options than you did when you bought your home. Some of the benefits of mortgage refinancing include: Saving money by borrowing at a lower rate. Mortgage interest rates are cons...
Estimate your monthly payments, annual percentage rate (APR), and mortgage interest rate to see if refinancing could be the right move. Run the numbers > Do you know what your home is worth? Current Wells Fargo customers can track neighborhood estimated home values, learn ways to increase the...
Find Your RateVeterans: Check VA Rates & EligibilityFind Your RatePaid advertisement. NMLS #1907. Not a govt agency Tools Mortgage calculator Calculate your monthly mortgage payment. Affordability calculator Calculate the price of a home you can afford. ...
Mortgage refinancing replaces your current mortgage with a new one. Much like your original mortgage, the refinancing process involves a thorough review of your current financial status. Lenders reassess your credit score, home equity and debt-to-income ratio to figure out your eligibility for the...
For instance, the Federal Housing Government has several requirements regarding cash-out mortgage refinances about their loans, including personal loan limits, the amount regarding equity that can always be cashed-out, and qualification in addition to eligibility requirements. Besides the cash-out mort...
Unlike a traditional mortgage, an assumable mortgage is passed directly from seller to buyer, bringing its remaining balance and interest rate with it. Only FHA, VA, and USDA mortgages can be assumed. Some eligibility requirements may apply, and down payments can often exceed 20% if a property...
During the refinancing process, the lender will use both your and your spouse’s information to determine eligibility. If your spouse has excellent credit and a source of income, you might find that you get a better interest rate and can borrow more than you did as a single borrower. The ...
private mortgage insurance (PMI)due to a down payment of less than 20% of the purchase price, an appraisal may show the home’s value has increased and could void the PMI requirement on the new loan. The equity increase can also earn a lower interest rate on the refinanced mortgage....