Big news about home loans! Many people are changing their home loans to get better deals. This is called refinancing. It's like trading your old bike for a newer, better one!
- Refinance applications are way up – more than 16% recently!
- Companies like Truist, TD Bank, and Bank of America help people refinance.
- Some companies are better for different types of loans (like FHA or VA loans).
- Lower interest rates can mean lower monthly payments!
| Company | Best For |
|---|---|
| Truist | Many loan types, low DTI |
| TD Bank | Overall good, but limited areas |
| Bank of America | Conventional loans |
| Pennymac | FHA & VA loans, low rates |
Remember, refinancing can save you money, but it's important to understand all the details before making a decision.
