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Mortgage Guru

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Second Mortgage

What Does Second Mortgage Mean, And How Does It Work?

Second mortgages allow homeowners to borrow money against the equity at their own homes. They would not have to refinance their first mortgage. An amount up to 85% of your total home value can be borrowed. A second mortgage is only approved if you have at least 20% equity in your home. While applying for

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refinance

What is the Refinance Break-even point? You Should Know

One of the most commonly occurring phenomena is fluctuation in the interest rate environment. Due to the volatile economic factors, the interest rates offered on loans tend to change frequently. Very often, one is caught in a situation where they come across the information that after they had borrowed a loan and signed the agreement

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Home Equity loans

Best Home Equity Loan Rates for September 2021

A loan is an arrangement in which a sum of money is lent to a party with a future repayment obligation when the party keeps a certain asset as collateral. A borrower is liable to pay the principal amount that is borrowed plus the interest incurred at a certain rate of interest for the given

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Refinance rates

Current Refinance Rates: You Should Know Right Now

A refinance when the term of an existing loan is revised, such as schedule of payment, rate of interest. The refinance tends to be done by the borrowers when there is a fall in the interest rate. Refinance rates changes or fluctuates all the time. Refinance rates change due to several factors such as inflation,

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