After four months and one week, I finally was able to refinance my primary residence mortgage! I went through the hardest mortgage refinance ever. And with rates increasing again, refinancing a mortgage will continue to be hard for many. The Hardest Mortgage Refinance Ever My original loan was a 5/1 ARM at 2.5% that began […]
The Hardest Mortgage Refinance Ever: Key Takeaways Read More »
My latest mortgage refinance based on relationship pricing was one of the most frustrating refinance experiences ever. Relationship pricing should help you get a lower mortgage rate. However, you may have to jump through more hoops than you want. It is very hard to get a mortgage nowadays given stringent underwriting criteria. You can hear
The Difficulties Of Relationship Pricing When Refinancing A Mortgage Read More »
I believe a property is not so much an investment but a lifestyle decision. When we choose to buy property, we’re choosing to plant roots in a neighborhood we love, and build our lives accordingly. Not to say you can’t do the same renting. It’s just that when you have a large financial commitment to
Go Broke To Win Big HELOC Edition – Maximize Your Home Equity Read More »
An adjustable rate mortgage (ARM) has an interest rate cap. This article will explore how much an ARM mortgage interest rate can go up after the introductory fixed rate period is over. In general, the average maximum ARM adjustment up during the first year is 2%. Due to the limit in how much interest rates
How Much Can An Adjustable Rate Mortgage Go Up After The Fixed Period Is Over? Read More »
Applying for a mortgage today is truly one of the most eye-opening financial experiences ever. The financial crash has made getting a mortgage much more difficult. This is disappointing since the financial crash has brought mortgage rates down to all-time lows in the new decade. I now know why many consumers had absolutely NO CHANCE in
Proof Banks Caused The Financial Crash: The Cancer Of MORE Read More »
If you want to buy a house in this still strong housing market, know that it’s hard to get a mortgage nowadays. The lending market is incredibly tight and only borrowers with the best credit are getting the best rates. Further, mortgage rates have risen substantially since the beginning of 2022, making affordability more difficult
Why It’s So Hard To Get A Mortgage According To A Loan Officer Read More »
Originally, I was going to entitle this post, How To Get The Best Mortgage Interest Rate Possible. But after a couple weeks of battling, I failed to do such a thing due to a lack of convincing skills, poor timing and good old fashion bait and switching. As a result, let me teach you how
How To Fail At Getting The Lowest Mortgage Interest Rate Possible Read More »
In general, I’m a fan of paying off your mortgage, no matter the situation. However, paying off your mortgage is a bad move whenever the yield curve is inverted. Paying off your mortgage is a suboptimal decision when you have a negative real mortgage interest rate as well. I’ll use a case study to explain
Paying Off Your Mortgage Is A Bad Move When The Yield Curve Is Inverted Read More »
You know what’s better than successfully refinancing your mortgage at a lower rate? Getting a free mortgage loan modification at a lower rate without all the paperwork, hassle and fees. A mortgage loan modification is when the bank contacts you and basically says, “Hey good looking! Do you want some free money? If so, you’re
How To Get A Mortgage Loan Modification: In Search For Lower Rates Read More »
Be a mortgage refinance king to save money and maximize your returns on your real estate. Whenever interest rates decline, you must take action to refinance and save. Ever since starting Financial Samurai in 2009, there are two things I love about personal finance: 1) Making money and 2) Saving money. Both require effort, which
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