A: There are many products out there for people who don’t have equity. Harp 2.0, FHA Streamline and others may allow you to refinance even if you are upside-down on your equity position. In fact, they were designed to help people in that situation.
A: Many people aren’t aware that there are products out there for varying terms. You can get loans in 30, 25, 20, 15 and 10-year increments. Many times people can decrease their term and keep their payment about the same or even lower it!
A: Many times closing costs are very low, and sometimes zero, or they can be rolled into your mortgage. Act now, and you may be able to skip two house payments, and get an escrow refund, while still lowering your payment and/or term. You can use these savings to pay down your mortgage, to pay other bills, to go on vacation, for home improvements or virtually anything else.
A: Don’t let your credit hold you back. It doesn’t cost you anything to inquire. If there is a credit issue, many times we can help you get your score increased, allowing you to qualify and/or get a better rate.