Savings Corner

APRIL 4, 2024

Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Cash-out refinancing allows you to turn equity into cash through refinancing your mortgage. The terms of your refinanced mortgage might significantly differ from your original loan, including a new rate or longer or shorter loan term.

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Savings Corner

APRIL 4, 2024

What is mortgage refinancing? Mortgage refinancing is when you replace your current home loan with a new one. Just like any other loan, you apply for refinancing, which includes a thorough check of your credit, income, employment history and finances. Ideally, you’ll also get a lower rate in the process.

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Savings Corner

DECEMBER 25, 2023

How to use the mortgage calculator Under “Home price,” enter the price (if you’re buying) or the current value (if you’re refinancing). NerdWallet also has a refinancing calculator. Property taxes: The annual tax assessed by a government authority on your home and land.

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Family Balance Sheet

JUNE 24, 2021

They can cause a panic, especially when just one bill is into the four figures, like our property taxes or auto insurance! Years ago, April sent me into a panic and a scramble to find the funds. For ideas to find those funds, read: 25 Ways to Find Money for Your Emergency Fund. It will take some time.

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Prairie Eco-Thrifter

MARCH 16, 2011

If you find ways to reduce your mortgage payments, you could wind up saving a lot of money each month. Get a property tax assessment. Your tax bill could be incorrect. Your state or province may be overbilling you for the cost of your personal property. You will however need good credit to qualify.

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Savings Corner

APRIL 4, 2024

They may ask for copies of utility bills, lease or rental agreements, property tax bills or credit card statements as proof of address. The future perk is your credit score could improve, allowing you to get a lower mortgage rate when you find your new home. A longer term will result in a lower monthly payment.

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