Should I Refinance? The Question of Ages!Unless you’ve been living under a rock for the past year or two, you’ve probably asked yourself at some point, “Should I refinance?” Sure it’s possible you may have missed all of the recent news articles that mortgage rates are at all-time lows. You may have even missed the widely-publicized releases of a few newly developed upside down refinance programs. Knowledge is power, so before you ask the question, “Should I refinance?”, the first step would be to identify which type of loan you are currently in:
- If you have currently have an FHA loan and are looking to refinance, then the FHA Streamline Refinance may be for you. What is the FHA Streamline Refinance?
- If you have currently have a ‘conventional’ (Fannie Mae OR Freddie Mac) loan and are looking to refinance, then the HARP 2 Refinance may be for you. What is the HARP 2 Refinance?
- If you have a currently have a loan OTHER than these, there may still be a program out there for you!