What Refinancing Actually Does Refinancing replaces your existing mortgage with a new one, paying off the old loan and starting fresh with new terms. People refinance to lower their interest rate, shorten or extend their loan term, switch from an adjustable to a fixed rate, remove a co-borrower, or tap into home equity. It's a …
Read more Refinancing 101: When It Makes Sense and When It Doesn’t
Why Refinancing Involves Title Insurance Even though you already own your home, refinancing means taking out a brand-new loan with a new lender, and that new lender wants its own title insurance policy protecting its lien position on the property. It doesn't matter that nothing has changed about who owns the home; the new mortgage …
Read more Refinancing Your Ohio Home: Do You Need a New Title Insurance Policy?
Selling your home or refinancing your current loan brings up a critical question: how much do you actually owe your lender? If you simply look at your most recent mortgage statement, you might be surprised to learn that the balance shown is not enough to clear your debt. The amount required to completely satisfy your …
Selling your home or refinancing your current mortgage requires tying up a few financial loose ends. One of the most important documents you need during this transition is a mortgage payoff statement. This document shows exactly how much money it takes to satisfy your current home loan. Understanding this document helps you prepare for a smooth …