If you’re struggling qualifying to refinance your mortgage for any reason you might want to consider a cash-in mortgage refinance option. According to Freddie Mac, cash in refinancing is becoming more popular with nearly 25% of mortgage refinance loans closing with the homeowners paying down their home loans as part of the deal. Here’s an article on MortgageLoan.com to help you decide if a cash in mortgage refinance is right for you:
Cash In Mortgage Refinance Definition
Does it make sense to pay down your mortgage in order to be able to refinance at today’s super-low rates? Is this a good strategy for homeowners who are underwater on their mortgages?
Paying down your principle balance to qualify for a mortgage refinance is expensive enough without paying excessive lender or loan origination fees. One of the most common mortgage mistakes is getting hung up the lowest refinance rates and not looking out for junk fees. If you’re being quoted a rate lock fee for example, this fee is pure garbage and a sign that you need to find someone else to arrange your mortgage refi.
You can learn more about getting today’s best refinance rates without unnecessary fees or markup by checking out my free Underground Mortgage Videos.