reserves

Refinance guide escrow accounts and reserves when you refinance
Basics

Refinance guide escrow accounts and reserves when you refinance

Escrow Accounts and Reserves When You Refinance: What Homeowners Need to Know Refinancing a mortgage can lower your rate, change the loan term, or let you tap home equity. Two financial items lenders focus on during refinancing are escrow accounts (also called impound accounts) and cash reserves. They play different roles but both affect approval, […]

Refinance guide high-balance conforming refinance vs jumbo
Basics

Refinance guide high-balance conforming refinance vs jumbo

High-Balance Conforming Refinance vs Jumbo: What It Is and When It Makes Sense A refinance replaces your existing mortgage with a new loan to change the interest rate, loan term, or convert equity into cash. Two common categories for higher-balance loans are high-balance conforming and jumbo. High-balance conforming loans are still eligible for purchase by […]