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Hold a government-back mortgage: In addition to FHA-backed loans, mortgages backed by the U.S. Department of Agriculture’s (USDA) or the Department of Veterans Affairs (VA) also qualify.
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A low-cost mortgage refinance lets you save money on closing costs so you can put more money toward other financial goals, such as paying off student loan debt or high-interest credit cards.
By refinancing, you’d save about $220 on your monthly payments and nearly $30,000 in interest payments over the life of the loan, and it would take you about three years to recoup the closing ...
Cash-in refinance: A cash-in involves making a lump-sum payment when you refinance to a new mortgage, bringing down the balance on the new loan. Streamline refinance: Available with an FHA, VA or ...
The current average interest rate for a 30-year fixed mortgage is 7.00% for purchase and 7.05% for refinance, up 21 basis points from 6.79% for purchase and up 29 basis points from 6.76% for ...
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