Blog
Articles on DC loan programs, closing costs, taxes, refinancing and neighborhoods.
FHA mortgage insurance lasts the life of the loan when you put down less than 10%. A DC homeowner whose balance is 80% or less of the home's value can refinance to conventional and drop it.
Six ways to lower a DC mortgage payment: refinance to a lower rate, extend the term, remove PMI, recast after a lump sum, appeal the OTR assessment, and shop homeowners insurance.
How a rate-and-term refinance and a cash-out refinance differ in pricing, loan amount, equity position, and DC recordation tax ($0 on both with the Security Affidavit).
Seven refinance mistakes to avoid in DC: skipping the break-even, paying recordation tax you don't owe, taking one quote, resetting to 30 years, keeping mortgage insurance, rolling in costs, and waiting for rates.
Five reasons to price out a refinance (rate drop, better credit, loan-type switch, cash out, dropping mortgage insurance) and three cases where the closing costs are never recovered.
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