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Yes, you can refinance your condo mortgage. It works similarly to a refinance for single-family homes, giving you the option to lower your interest rate or change your loan term. ... You also must ...
Refinancing a mortgage loan only makes good sense if you can get a lower interest rate than what you already have. So, say you took on a loan with 7% interest — a very high rate — refinancing ...
Instead, look to refinance your mortgage at a better rate for a shorter-term loan that closely resembles the remaining time on your mortgage.” Ignoring How Long You Plan To Live in the Home
5 steps to prepare to refinance. You can keep in touch with a lender while you get ready to refinance, or you can use a DIY approach and wait to contact a lender until you're ready to apply.
Home equity loans. With a home equity loan or line of credit (HELOC), you take on an additional loan or line of credit rather than replace your mortgage. If you have a stellar interest rate right ...
The Home Affordable Refinance Program (HARP) was created by the Federal Housing Finance Agency in March 2009 to allow those with a loan-to-value ratio exceeding 80% to refinance without also paying for mortgage insurance. Originally, only those with an LTV of 105% could qualify.
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