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Mortgage Refinancing
Your Mortgage Refinancing Options
If your current mortgage has a high interest rate, you’re stuck in an adjustable rate mortgage, or you want cash out or to consolidate your debt, the answer to your mortgage problems is refinancing. Mortgage refinancing allows you to pay off the remainder of your existing loan by taking on a new loan with better terms. However, there are a number of mortgage refinancing options available to you. And within each of these options, there are particulars you need to be aware of.
Bills.com is here to help with your refinancing needs. We have the information, tools, and resources to point you down the right path towards the right options. And with our handy Bills.com Savings Center, you’ll have no problem finding a great rate on a mortgage refi. Get the information you need about refinancing here at Bills.com.
Bill's Expert Advice
Success Stories
Read a personal story about a home mortgage refinancing loan and discover how it works.
FAQs
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When Is A Good Time To For Mortgage Refinancing?
If you want to get a lower interest rate, you want to make sure rates are low at the time. If you’re refinancing for other reasons, such as getting money out, consolidating debt, or simply replacing an adjustable rate mortgage with a fixed loan, it all depends on your specific situation. Shop around and consult lenders for details, but be sure to let them know the reason why you want to refinance. It will help them help you make the right decision. -
When Refinancing My Mortgage, Do I Have To Use My Original Lender?
No. You can refinance your loan with any lender who will give you a loan. However, your original lender might be able to work out a better rate just to keep your business. It also eliminates the need for a new property appraisal, title search, etc. -
Is Mortgage Refinancing A Viable Solution To Consolidate My Debt?
Yes. Many people consolidate their debt via mortgage refinancing. However, you need to map everything out and make sure that a mortgage refinance is the best solution for consolidating your debt. Learn more about mortgage refinancing and debt consolidation loans.
Today's News
mortgage refinancing
Pedestrians walk past Lehman Brothers headquarters Wednesday in New York. The nation's fourth-largest investment bank, led by Chairman and Chief Executive Officer Richard Fuld Jr., is looking for a...
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EDITORIAL: The mortgage scandal roots - Washington Times
I n the current credit squeeze, if you have less than a 20 percent down payment, there's pretty much only one major source of mortgage financing available: the Federal Housing Administration, the...
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Glossary of Terms
Amortization: when your debt amount reduces via monthly payments.
Annual Percentage Rate: (also known as APR) the percent of a mortgage, based on interest, mortgage insurance, and loan origination fee (points), established as a yearly rate.
Cash-out Refinance: a type of mortgage refinancing where the borrower receives a loan that exceeds the total amount necessary to repay the existing first mortgage, closing costs, points, etc. so that the borrower may receive additional cash for other purposes.
Market Value: the accepted home value that is the highest price that a buyer would pay and the lowest price a seller would accept on a property.
Refi: slang for “refinance”, which is getting a new loan at a lower APR to paying off an existing loan.
Average Mortgage Rates
| program | apr |
|---|---|
| 30 Yr Fixed | 6.17% |
| 15 Yr Fixed | 5.88% |
| 30 Yr Fixed Jumbo | 7.33% |
| 15 Yr Fixed Jumbo | 6.79% |
| 3/1 ARM | 5.98% |
| 5/1 ARM | 6.13% |
| 7/1 ARM | 6.34% |
| 10/1 ARM | 6.7% |
| 3/1 ARM (I/O) | 6.01% |
| 5/1 ARM (I/O) | 6.21% |
| 7/1 ARM (I/O) | 6.46% |
Articles and Advice
Options for Getting a Mortgage Refinance Loan
Discover how to get a mortgage refinance loan and what you need to prepare for.
Mortgage refinance loan
Determining if It's Time to Refinance
Learn when the right time is to refinance so you can get the best rate possible.
Best time to refinance
Bad Credit Mortgage Refinancing Options
You can refinance your mortgage if you have bad credit. Learn how.
Bad credit mortgage refinancing
Debt Consolidation Through Refinancing
Learn how you can consolidate your debt with a mortgage refi.
Mortgage refinancing and debt consolidation loan
No Cost Mortgage Refinancing Options Explained
Get all the details about no cost mortgage refinancing and learn how to make it work for you.
No cost mortgage refinancing
Your Refinancing Mortgage Rate Depends on Your Financial Health
Regardless of your reason for refinancing, your new rate will depend on many personal financial factors. Discover what they are with our helpful guide.
Refinancing mortgage rate
Refinancing a Second Mortgage Can Save Money
A second mortgage, also called a home equity loan, often has a much higher interest rate than a first mortgage. Discover the money saving benefits of refinancing a second mortgage.
Refinancing second mortgage
How to Get the Best Mortgage Refinancing Rate
Find out how to get the best mortgage-refinancing rate and discover what your options are.
Best mortgage refinancing rate
Improve Your Finances with a Debt Consolidation Mortgage Refinancing Loan
If your high-interest rate credit card debts are costing you a fortune, you could save money, reduce your taxes, and pay off your debts faster with a debt consolidation mortgage refinancing loan. Learn more.
Debt consolidation mortgage refinancing loan
Home Loan Mortgage Refinancing vs. Home Equity Loan
If you are considering taking out a secured loan against your home, two of your options are home loan mortgage refinancing with cash-out or home equity loans. Find out the difference.
Home loan mortgage refinancing
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