The average credit score for approved mortgages is finally declining a little bit. As thousands of homeowners smartly refinance their mortgages during the global pandemic, banks are getting more competitive. Before the 2008 – 2009 recession, the average credit score for approved mortgages averaged around 720. 720 is actually the cut-off point between “Good” and […]
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The refinance window only lasts so long. There was a massive refinance window during the global pandemic. However, that particular refinance window has closed. Mortgage rates are now at 17-year highs and the housing market is at a standstill since everybody refinanced in 2020, 2021, and early 2022. When the next refinance window opens, I
The Refinance Window Is Closing: Historical Charts Of The 10-Year Yield Read More »
A number of you have asked me whether you should do a cash-in refinance. So, I’d like to share my thoughts on this interesting scenario. A cash-in refinance is basically when you pay down your existing mortgage to under a certain loan-to-value ratio in order to qualify for a mortgage refinance. Loan-to-value is calculated by
Eventually, you will come across a greedy banker or thoughtful banker when doing any type of business. Let’s discuss a banker’s sentiment, because often, the people in finance are unfairly stereotyped as bad people. My friend is leaving his job of the past five years to work on his own start-up. When he got an
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“The New Rules For Mortgages” by Dale Siegel provides a fantastic understanding of everything you need to know about mortgages. For many, a home is the single biggest purchase of their lives, and the mortgage is a necessary instrument for making homeownership dreams a reality. Qualifying for a mortgage is daunting, but it doesn’t have to
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