1/15/2024 0 Comments Quicken loans mortgage ratesOnce you've hit a loan-to-value ratio of 80% or less, you may consider refinancing to get rid of private mortgage insurance. ![]() A cash-out refinance allows you to tap into your home's equity, which you can use to meet other financial goals, such as renovating your house or paying off higher-interest debt. Refinancing from an adjustable-rate mortgage to a fixed-rate mortgage eliminates the risk that your interest rate – and monthly payments – will change at the end of your fixed period. The point of the lock is to protect you during the period between when you agree to a loans terms and. For a refinance, it’s usually when you are submitting your documentation for loan approval. For a home purchase, it’s usually when a purchase agreement has been signed.
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