GREENWAY BLOG

A greener look at a mortgage process unlike anything you have
experienced before. Where experience, efficiency & integrity meet.

Should You Use a Cash-Out Refinance to Consolidate High-Interest Debt?

Should You Use a Cash-Out Refinance to Consolidate High-Interest Debt?

  Many homeowners refinance to pay off debt that has built up over time, such as credit cards and auto loans. If you find yourself struggling with high-interest debt, you’re not alone. According to  Experian , the average American household has $92,727 in personal debt. For homeowners, the good news is that you can use a cash-out refinance to pay off debt. With a  cash-out refinance  homeowners get a mortgage for more than they owe on the home. In turn, they can take the difference in cash and pay off high-interest debt with it, which helps them to save more money over the long term. Mortgage interest rates can be an amazing bargain compared to...

READ MORE
What Does The Fed's Rate Hike Mean For Mortgages?

What Does The Fed's Rate Hike Mean For Mortgages?

  They did it again! In an effort to quell inflation, the Fed increased policy rates by 0.75% at their most recent meeting. This is the largest increase since 1994 and more than initially expected. Mortgage interest rates had already moved upward in anticipation. What's next? It is expected the Fed will continue moving rates on an upward path at each successive meeting of the Open Market Committee, so long as conditions warrant. Most analysts anticipate the increases will continue until the Fed has met its directive of containing inflationary forces in the economy. Background on the Fed: The Federal Reserve Board (the Fed) controls the federal...

READ MORE
Benefits of A Cash-Out Refinance

Benefits of A Cash-Out Refinance

  Buying a home is certainly one of the biggest financial investments you’ll ever make. Keeping a home as comfortable and up to date as possible is key to loving the home you’re in. However, sometimes it’s difficult to come up with extra cash for home renovations and repairs. If you find yourself in this position, you may want to consider a cash-out refinance which allows you to tap into your home’s equity. A cash-out refinance  has many benefits and so much to offer. With a cash-out refi, you can renovate your home, consolidate high-interest debts into a single, low-interest loan, buy that dream vacation you’ve been longing for and so much...

READ MORE
MarketMinute | Something Is Falling In Price

MarketMinute | Something Is Falling In Price

The Fed is expected to raise policy rates by 0.5% next week. This move was previously forecast and is already reflected in mortgage rates. Jobless claims moved to the highest level since mid-January last week, totaling 229K, despite signs of an otherwise strong labor market. Credit card balances have spiked to $841 billion and hit new record levels, as consumers deal with the highest inflation in 40 years. Purchase mortgage applications fell 7% for the week and were 21% lower than the same week one year ago....

READ MORE
June Is Homeownership Month

June Is Homeownership Month

  More than ever, we have realized that our homes are so much more than the houses we live in. Over the past couple of years, they’ve become our workplaces, schools for our children, and a safe place where we’ve weathered the most challenging moments of a worldwide pandemic. From rural counties to bustling cities, owning a home offers an opportunity to lay down roots, start a family and embark on new beginnings.   As National Homeownership Month kicks off this June, homeowners certainly have many reasons to celebrate. Read on to learn about the non-financial and financial benefits it has to offer. In an annual Gallup  poll, Americans chose...

READ MORE
Showing results 26 - 30 of 492
  • Readers Choice Winner 2018
  • Readers Choice Contest 2017
  • Mortgage Banker Association Member