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What Is The Difference Between Interest Rate And APR?

Whenever you are borrowing money, whether it’s for a mortgage, credit card, or car loan, you’ll hear the terms interest rate and APR discussed quite a bit. Both of these terms are expenses, and it’s important to understand what each expense means and what they are made up of. What is the difference between interest...


Mortgage Refinance Checklist

The All-Encompassing Mortgage Refinance Checklist

Refinancing opens up great opportunities for homeowners to cash out on equity, reduce monthly mortgage payments, or renegotiate the interest rate on their home loan. However, the paperwork and knowledge needed to navigate a refinance are monumental, and the process can...


What Documents Do I Need To Refinance My Mortgage?

The interest rate on a mortgage is simply the fee a lender charges the borrower for borrowing their money. Over the lifetime of the loan, the interest expense certainly adds up! A move of just a few basis points can add up to tens of thousands of dollars over a standard 30-year fixed rate mortgage. Right now, interest...


What is a Cash-Out Refinance?

A cash-out refinance is the process of taking the equity you have built in your home in the form of a cash deposit into a designated account or physical check. Many people choose this type of refinance to remodel their home or pay down debts, but the funds can be used however the homeowner chooses.


How to Refinance a Mortgage: Refinancing Process Guide

Consider this scenario. You bought a house several years ago, and at the time, you thought you got a pretty great deal. However, since you closed on your new residence, interest rates have plummeted, and you’re wondering how you can benefit from them. Does this sound accurate? If so, you may be in the right position...