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Category | Mortgage Refinance

Refinancing a Coop in New York

Coop living in New York is attractive because it allows you to buy “shares” in a building. Coop mortgages allow you to buy these shares without spending a dime from your own pocket. However, if you have an existing mortgage, you can choose to refinance it. Why Refinance a Coop Mortgage in New York? You […]

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PayOff Revolving Debt to Qualify

It is with great news that we share that we have updated the guidelines with regards to Fannie Mae Loans and Paying Off Debt to Qualify. Effective with 2015-06, FNMA has reversed their position on revolving debt payoff and will no longer require a revolving debt to be paid in full to also be closed. […]

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W2 Transcript Only

We are please to announce our W2 Transcript ONLY program. Typically, 1040 tax return transcripts are required for all borrowers to submit for qualifying purposes, however, our guidelines now allow just W2 transcripts to be pulled and a signed 4506 T signed at closing in lieu of 1040 transcripts. This great news eliminates qualifying dilemmas […]

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FHA PMI Removal

FHA Mortgage Insurance Update We have a freshly updated database of 583,746 FHA homeowners that should no longer be paying Mortgage Insurance (PMI). These homeowners are prime candidates for conversion to conventional financing to eliminate their PMI burden. There are many more FHA borrowers <95% that could see substantial savings by converting to a conforming […]

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What are benefits of cash out refinance?

Cash out refinance isn’t for everyone, but it helps certain classes of home and property owners a lot when appropriate. Benefits include better cash flows and more cash in hand for projects and lifestyles. Refinancing options allows borrowers to pay off high interest debts. Refinancing can lower interest rates and combine debt into one payment […]

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Is It Time To Refinance?

When lower mortgage rates change the economic climate, it’s always smart to ask yourself if your current home financing arrangement is still working optimally for you. Here are some answers to a few basic questions to help get you started: Q. How far below your current rate do interest rates have to go before refinancing makes sense? A. […]

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When is the right time to refinance an underlying Coop mortgage?

As building and coop units age, more maintenance and upkeep can be expected. These can be substantial as coop underlying mortgages finance items like roof repairs, facade care, and grounds keeping among other community expenses. Any type of saving in that environment is a positive move.The fact is the right time to refinance an underlying […]

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Freddie Relief Refinance HARP Products

The HARP program backed by Freddie Mac is known as the Home Affordable Refinance Program. It allows borrowers who are underwater on their mortgages (owe more than the home is worth) to refinance into a new loan with a new interest rate and lower principal balance. The program was created in April 2009 to help […]

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