Home Affordable Refinance Program (HARP) Revamped

Welcome to our week-long series on refinancing your mortgage. In this second of five articles, we look at the Home Affordable Refinance Program, better known as HARP. As the real estate market hit bottom, it created a significant hurdle to refinancing–home values. Many homeowners owe more to the bank than the value of their home. […]

Published or Updated: April 13, 2016

When to Refinance Your Mortgage

Welcome to our week-long series on refinancing your mortgage. In this first of five articles, we look at when you should refinance. As I mentioned yesterday, my wife and I just closed on the refinancing our mortgage. We purchased our current home in 2004 and obtained a 30-year fixed rate mortgage at 5.625%. We are […]

Published or Updated: April 13, 2016

A Guide to Refinancing Your Mortgage

I‘ve been in the middle of a refinancing frenzy. Last week my wife and I closed on a second refi in under 12 months on our home. We brought our rate down from 5.625% to 3.875% on a 30-year fixed. And my business partner and I are in the middle of refinancing three rental properties. […]

Published or Updated: April 2, 2013

Just Locked In a 3.75% Fixed Rate 30-Year Mortgage

My wife and I refinanced our mortgage earlier this year. We had a 30-year fixed rate loan at 5.625%. We refinanced with no points to a 30-year fixed rate at 4.875%. I was convinced at the time that we would never refi our mortgage again. Boy was I wrong. In fact, just last week we […]

Published or Updated: January 29, 2012

How To Lower the Closing Costs on a Home Purchase or Refinance

If you’re new to the home buying process, you may be a little surprised at the fees and costs you pay over and above the cost of the home. Unbeknownst to ill-prepared home-buyers, there’s actually a good amount of money that will be due when you’ve finally “closed” on the home. These fees are aptly […]

Published or Updated: August 21, 2011

Which Mortgage is Right for You?

Recently, I’ve been spending more time than I care to admit with mortgage brokers. First my wife and I refinanced our home to take advantage of the low mortgage rates (we got 4.825% fixed for 30 years on a super conforming loan). And then I refinanced one of my investment properties. During this refi bonanza, […]

Published or Updated: March 22, 2012

How to Pay Off Your Mortgage Early (for FREE!)

Now that my wife and I have paid off all our non-mortgage debt, it’s time to turn our attention to the mortgage. We currently owe over $500,000 on our home (gulp!). No, we don’t live in a mansion; we live in Northern Virginia. And even with the downturn in the housing market, real estate prices […]

Published or Updated: June 27, 2011

The Real Cost of Using a Real Estate Agent

I knew something was amiss when my wife and I bought our first home way back in 1993. We had a “buyer’s agent” represent us. That means in theory that the agent was representing us, not the sellers. But when a problem with the inspection surfaced, our agent wanted us to eat the cost of […]

Published or Updated: June 20, 2011

Fannie Mae Offers Incentives for Homebuyers

Fannie Mae just announced new incentives for homebuyers (and realtors) that I thought was worth passing on. Fannie Mae is what’s known as a government-sponsored enterprise (GSE) that adds liquidity to the mortgage market by buying certain home loans. By buying up loans, Fannie Mae puts money back into the mortgage market so banks can […]

Published or Updated: October 19, 2011

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