verb
definition
To renew the terms of a loan.
Examples of refinances in a Sentence
While some Midland mortgage companies deal exclusively with disbursing mortgage loans for both purchases and refinances, other mortgage companies by the same name deal exclusively with mortgage servicing.
Bank of America offers cash out refinances, and you can apply online or over the telephone.
Wells Fargo has online applications for cash out refinances in addition to information online evaluating the comparison between cash out refinances and equity loans.
It's also important to time home purchases and refinances to capitalize on trends that are in your favor as a consumer.
Chase Home Mortgage lists interest rates for primary mortgages and refinances.
Interest rates for refinances tend to be similar to home mortgages, though they can vary.
Some homeowners are able to obtain mortgage refinances through other lenders.
Some lenders put prepayment penalties into their loans as a way to make a profit even if the borrower refinances.
There are specific calculators created for refinances, balloon mortgage calculations, adjustable rate mortgages and a cash-out refinance.
Bankrate.com offers amortization schedules for 10- to 30-year mortgages, for fixed, fixed refinances, FHA, FHA refinances, ARM and ARM refinances.
When your current lender is not an option, or your current lender is not offering attractive interest rates and terms for mobile home refinances, it is time to do some research to find the best refinance product available to you.
In many instances, the applications for new mortgages and refinances are identical.
Approved mortgage refinances must go through the closing process just like new mortgage loans.
Lenders may not require full inspections, surveys, or appraisals for refinances on home loans they already hold.
Refinances are not guaranteed, and must go through the same approval process as other mortgage loans.