refinance Archives - North Star Mortgage Network Inc.

Evaluate Your Current Mortgage: We help you review your current mortgage terms, interest rate, remaining balance, and monthly payments. Determine why you want to refinance (e.g., lower monthly payments, shorten the loan term, cash out equity). Check Your Credit Score: We will help you check your credit score will influence the interest rate you can…

Interest on federal student loans has been zero since the start of the pandemic, but as of Sept. 1, interest has started accruing again with payments, once again, becoming due. With rates typically between 3% and 7%, student loan payments can result in a significant increase in borrower’s monthly expenses as payments begin in October.Fannie…

Two versions of appliances exist. PERMANENT – This means it is built in. Think of an island with a range top installed or built-in oven. These DO contribute to the value. DETACHED – Think of appliances you just push in and plug in but can be removed easily. These DO NOT contribute value because they…

A “lot loan” typically refers to a type of loan that is used to purchase a piece of land or a vacant lot. A lot loan is different from traditional home mortgages, which are used to buy homes that include structures. Lot loans are specifically designed for the purchase of land that doesn’t yet have…

What is a reverse mortgage? Its official name is a Home Equity Conversion Mortgage (HECM), a loan insured by the Federal Housing Administration (FHA) for homeowners age 62+. A Reverse Mortgage allows you to:• Access a portion of your home equity• Use the income tax-free2 cash proceedsas you wish• Eliminate monthly mortgage payments You retain…

A Home Equity Line of Credit (HELOC) is a financial product that allows homeowners to borrow money against the equity they’ve built up in their property. Equity is the difference between the current market value of the property and the outstanding balance on any mortgage or loans secured by the property. HELOCs are typically offered…