Loan types
Condo litigation and warrantability: how legal disputes affect your refinance When you refinance a condominium unit, lenders don’t just evaluate your credit and the unit itself — they also review the condo project. “Warrantability” refers to whether a condo association meets the underwriting standards lenders use (frequently aligned with Fannie Mae, Freddie Mac, FHA, VA, […]
Refinancing When You’re Underwater: What It Is and When It Makes Sense Being underwater on your mortgage means you owe more on the loan than your home is currently worth. That makes a traditional refinance difficult because lenders typically underwrite based on loan-to-value (LTV) ratios. However, there are several options and workarounds that may allow […]
Applying for a Refinance While Changing Jobs: What Homeowners Need to Know Refinancing a mortgage while you’re changing jobs is common but requires extra attention. Lenders evaluate employment stability and income continuity as part of underwriting, so a job change can affect eligibility, timing, and the documentation required. This guide explains when it makes sense, […]
Refinancing to Remove a Co-signer: What It Is and When It Makes Sense Refinancing to remove a co-signer means replacing an existing mortgage with a new loan in the primary borrower’s name only so the co-signer is released from legal responsibility. Homeowners commonly pursue this when a parent or partner who originally guaranteed the loan […]
What a “No Closing Cost” Refinance Is — and When It Makes Sense A “no closing cost” refinance is a loan option where the lender absorbs the typical closing costs (appraisal, title, origination fees, etc.) in exchange for something else: usually a slightly higher interest rate, a lender credit, or rolling the costs into the […]
Removing a Co‑Borrower with a Refinance: What It Means and When It Makes Sense Removing a co‑borrower with a refinance means replacing the current mortgage with a new loan that lists only one borrower — the person who will remain financially responsible for the mortgage. Homeowners pursue this when one party wants to be released […]
Refinancing When You Have a High DTI: What It Is and When It Makes Sense Debt-to-income (DTI) is the percentage of your gross monthly income that goes toward monthly debt payments. Lenders use DTI to judge whether you can afford a mortgage. A high DTI (commonly above 43% for conventional loans, though some lenders allow […]
Mortgage Recast vs Refinance: Which Is Better? Homeowners weighing ways to lower their monthly mortgage payment or shorten the life of a loan often consider two options: a mortgage recast or a refinance. Both change your payment profile but in different ways, with distinct costs, benefits, and eligibility rules. This guide explains what each option […]
Community Property States and Refinance Underwriting: What Homeowners Need to Know When you’re refinancing a mortgage in a community property state, state law affects how lenders underwrite the loan, who must sign, and what rights the non-borrowing spouse retains. This article explains what community property means for refinancing, when it matters, the benefits and drawbacks, […]
Refi Denials: Common Reasons and How to Fix Them Getting denied for a mortgage refinance is a frustrating but not uncommon experience. A denial can be an early warning that something in your credit profile, income documentation, property value, or title needs attention. This article explains why refinance applications are denied, when it makes sense […]
Jumbo Loan Refinance Requirements and Tips Refinancing a jumbo loan — a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA) — can reduce monthly payments, shorten your loan term, or free up cash. Because jumbo loans are not purchased by Fannie Mae or Freddie Mac, lenders apply stricter […]
Refinancing After a Credit Dispute or Rapid Rescore: What Homeowners Need to Know If you recently disputed items on your credit report or used a rapid rescore to improve your score, you may be wondering how that affects your ability to refinance your mortgage. This guide explains what these processes are, when using them makes […]