Independent Blog

Real Estate Blogs

Mon, 14 Jul 2008 03:58:00 GMT

You like blogs? Well you've come to the right place here at www.portland-refinance.com. You can also check out http://www.real-estate-blogs.com.

What paperwork do you need to refinance?

Mon, 30 Jun 2008 03:09:00 GMT

Most lenders will ask for the following paperwork:

Pay stubs for the last month

Your most recent W-2 forms

Last years tax return (or tax returns for the past two years if self-employed or employed at your current job for less than 2 years)

Bank and brokerage statements for the last month

Mortgage statement

Statements for any home equity loans or lines of credit

Homeowners insurance statement

When is the best time to refinance?

Tue, 24 Jun 2008 06:54:00 GMT

The only way to really know if it's time to refinance is to do the math. Typically, the cost to refinance will be about 1-2% of the loans value. If you plan to stay in the house a long time (at least 2 years) and you can bring your interest rate down by 1% or more, it's probably worth it.

Here is a handy calculator from the Bank of America that you can use to help you make a decision.

Where are people moving to?

Tue, 24 Jun 2008 06:44:00 GMT

Here is an interesting graph I found for the Portland Refinance blog. It shows net migration by state. Out of California, Oregon, Washington, Idaho, Nevada, and Arizona, which State would you guess is losing people (at least back in 2006)?