Refinance
Refinance demand moves with the spread between a borrower's current rate and today's market, home equity, closing costs, and payment math.
Coverage includes rate-and-term refis, cash-out activity, VA IRRRL and FHA streamline programs, and weekly MBA refi application trends.
Latest Refinance coverage
Ocrolus Now Includes Its Detect Fraud Checks for All Mortgage Customers
Ocrolus said Oct. 12 that every mortgage customer now gets Detect, which screens bank statements, pay stubs and tax forms for tampering, at no added cost.
FHA Sets Score-Selection Rules for FICO 10T and VantageScore 4.0 Starting Jan. 1, 2027
FHA Mortgagee Letter 2026-11, dated Oct. 8, explains how lenders pick the Minimum Decision Credit Score when more than one credit score model is submitted, for case numbers assigned on or after Jan.…
ARM Demand Climbs as High Rates Push Borrowers Toward Lower Initial Payments
ICE's October Mortgage Monitor, released Oct. 5, found ARMs topped 11% of rate locks, their largest share in nearly four years. About 180,000 ARMs face first resets in 2027.
Small-Dollar Mortgages Keep Shrinking Despite New Federal Pilot
Realtor.com research published Oct. 7 finds loans of $100,000 or less are now under 3% of originations, as a July law gives HUD authority for a four-year FHA small-dollar pilot.
Why Now May Be the Right Time for a Cash-Out Refinance
Homeowners with substantial equity are increasingly looking to their properties as a source of financing for home improvements, debt consolidation and other major expenses. With years of home-price a…
Equifax Extends $1 VantageScore 4.0 Pricing as Mortgage Adoption Rises
Equifax said Oct. 8 that nearly 2,000 mortgage lenders and resellers used its free VantageScore 4.0 offer and that it will keep $1 mortgage pricing for the score through 2028. It also launched Mortga…
FHA Lending to Non-Permanent Residents Falls After Eligibility Change
ICE origination data reported by HousingWire on Oct. 8 show non-permanent residents' share of FHA purchase loans fell from about 5.8% to about 0.1% after HUD's May 25, 2025 eligibility change.
Freddie Mac Sells $428 Million in Nonperforming Loans, Awarding Four Pools to Two Buyers
Freddie Mac’s latest sale of deeply delinquent mortgages highlights how the government-sponsored enterprise manages distressed assets, transfers mortgage credit exposure and uses investor demand to m…
Fannie Mae's October Guide Update Loosens Verbal VOE Methods and Expands Attorney Opinion Letters
Fannie Mae's Selling Guide announcement SEL-2026-09, dated Oct. 7, removes prescribed verbal verification methods, changes income continuance timing and digitizes seller wire instructions. One K-1 ch…
HUD Raises the Section 184 Upfront Guarantee Fee to 1.50% for New Commitments
Since Oct. 1, new Section 184 firm commitments, including refinances, carry a 1.50% upfront fee instead of 1.00%. The annual fee stays at zero, and existing guaranteed loans are not affected.
Paid the VA Funding Fee, Then Got a Disability Award? Check the Effective Date
VA may refund the funding fee when a later compensation award is retroactive to before your closing date. The effective date, not the decision date, is what counts.
Three Insurance Lines at Closing, Three Different Jobs: Lender's Title, Owner's Title and Homeowners
Lender's title insurance protects the lender. Owner's title insurance is usually optional and protects your equity from past title problems. Homeowners insurance covers damage going forward.
Why Your Lender May Not Use the Student Loan Payment on Your Credit Report
Conventional underwriting counts a monthly student loan payment, but a $0, missing or wrong payment on the credit report can trigger a different number. Your loan statement often decides which.
FHA Gift Money Needs a Paper Trail. Plan the Transfer Before It Moves
FHA allows gifts toward a down payment and closing costs, but the lender must document who gave the money, that it is not a loan and how it reached you. Undocumented deposits slow closings.
Points or Lender Credits? Compare the Same Loan Three Ways Before You Choose
Points lower your rate for more cash at closing. Lender credits do the reverse. The Loan Estimate shows both, but only if you ask each lender to price the same loan the same way.
Your HELOC Payment Can Jump When the Draw Period Ends. Check These Terms Now
Many home equity lines allow low payments while you borrow, then require principal and interest on a variable rate. The switch can raise the payment sharply even if rates do not move.
Your Rate Did Not Change. Here Is Why Your Mortgage Payment Did
On a fixed-rate loan, principal and interest stay put. Property taxes and insurance do not. An annual escrow analysis can raise the payment and add a shortage repayment at the same time.
Assumable Mortgage Checklist: Why Neither Side Should Rely on a Handshake
A low-rate assumable loan can help a buyer, but only with servicer approval, cash for the equity gap and, for the seller, a formal release of liability. Here is the checklist for both sides.
FHA Mortgage Insurance vs. Conventional PMI: The Difference Is How It Ends
Both protect the lender when the down payment is small. FHA adds an upfront premium and often lasts longer; conventional PMI can be canceled as equity builds. Here are the questions that matter.
What Your Loan Estimate Can and Cannot Promise About Cash to Close
Some Loan Estimate fees are locked, some can rise only within a limit and some can change freely. Knowing which is which makes the three-day Closing Disclosure review far more useful.
The VA Escape Clause Protects Your Deposit. It Does Not Close the Appraisal Gap
If a VA appraisal comes in below the contract price, the escape clause lets a veteran walk away without losing earnest money. It does not lower the price or cover the difference on its own.
A Sunday Mortgage Quote Is Not a Rate Lock: Check the Deadline and the Fine Print
Before relying on a weekend rate quote, confirm whether your loan is locked, when that protection expires, and the separate rules for extensions and float-downs.
Low Appraisal? Ask Three Questions Before Paying the Gap
A lower valuation can change your financing. Check the report, the loan calculation and your contract before committing more cash.
Using Your VA Loan Again: What Changes When You Sell or Keep the Home
Selling, paying off and keeping a VA-financed home lead to different entitlement questions. An updated COE and lender review establish the next purchase options.
Before You Wire Closing Funds, Make This Verification Call
Save trusted contacts early, verify the account through an independent call, and confirm receipt immediately. A familiar email thread is not enough.
Condo Financing: Your Approval and the Building’s Review Are Separate
A condo buyer’s preapproval does not settle the building’s eligibility. Request association budgets, insurance, repair records and assessment details before setting an offer timeline.
A Mortgage Recast Can Lower the Required Payment. An Extra Payment Alone May Not.
Before sending a large principal payment, ask your servicer whether the loan qualifies for a recast and what happens to your monthly bill.
A Cash-Out Refinance Can Lower Your Payment and Still Cost More Over Time
Using home equity to pay off credit cards can shrink the monthly bill. Check the total interest, fees, payoff date and the new risk to your home first.
Fair Isaac's Dominance in Mortgage Credit Scoring Could be Challenged by New Grid Structure, BofA Says in Downgrade
Fair Isaac’s long-standing position in the mortgage credit-scoring market is facing a new competitive test after Fannie Mae and Freddie Mac aligned the pricing treatment of Classic FICO and VantageSc…
Same Month, Different Mortgage Rates: Realtor.com Finds a 93-Basis-Point Spread Among Buyers
A new Realtor.com study of 1.35 million purchase loans finds the middle 80% of borrowers landed on rates 93 basis points apart in the same month. Lender shopping was the fastest lever.