Loan types
Refinance to Remove FHA Mortgage Insurance: What It Is and When It Makes Sense FHA loans require mortgage insurance premiums (MIP) to protect the lender — an upfront fee (UFMIP) paid at closing and an annual MIP collected monthly. Removing FHA mortgage insurance typically means refinancing the FHA loan into a conventional loan that doesn’t […]
Refinancing to Remove a Balloon Payment: What It Is and When It Makes Sense A balloon payment is a large lump-sum that becomes due at the end of a loan’s term when the regular payments did not fully amortize the principal. Refinancing to remove a balloon payment means replacing the existing loan with a new […]
Rate Buydowns on Refinance: Temporary vs Permanent When refinancing your mortgage you may be offered ways to lower your interest rate either temporarily or permanently by paying “points” or accepting a structured buy down. Understanding the difference between temporary and permanent buydowns, how they affect monthly payments, and which fits your financial goals can help […]
Interest-Only Loan Refinance to an Amortizing Mortgage: What It Is and When It Makes Sense An interest-only loan allows borrowers to pay only interest for a set period (typically 5–10 years), after which payments either increase, the loan converts to fully amortizing payments, or a balloon payment is due. Refinancing an interest-only loan to an […]
Mortgage refinance rates dip to 6.69% for 30‑year fixed loans Mid‑2025 saw a modest downward move in long‑term mortgage costs, with 30‑year fixed refinance rates falling to about 6.69%, according to a market summary published Aug. 11, 2025. The report notes the easing came amid shifting bond yields and a broader pullback in some benchmark […]