![]() Unless you're getting a non-credit qualifying streamline refinance, your lender will look at your credit, so having a strong credit profile can help you secure a good interest rate on your FHA refinance. How to get a good rate on your FHA refinance Cash-out refinance:This type of refinance lets you tap into your home's equity and get cash back at closing.With both types, there are fewer documentation and underwriting requirements, and no appraisal is needed. These refinances can be either credit qualifying, meaning the lender will need to check your credit before approving you, or non-credit qualifying, which requires no credit check. Streamline refinance: As the name suggests, a streamline refinance offers a simpler process for refinancing from an FHA mortgage into a new FHA mortgage.If you're refinancing from an FHA mortgage into another FHA mortgage, it's called a simple refinance. If you're refinancing from a conventional mortgage into an FHA mortgage, it's called a rate-and-term refinance. Rate-and-term or simple refinance: This is a standard refinance that allows you to lower your rate or change your term length.The three main types of FHA refinance loans include: ![]() (A lot of people do this anyway because they don't trust any single product enough, but I definitely wouldn't with CK.) If you do that and get a match, I think filing via CK would be fine.Mortgage rates on Zillow Real Estate on Zillow Types of FHA refinance loans If you don't trust yourself with that, I know some people will cross-check two software products. If you're knowledgeable about things, you could do a careful manual review of the return before filing. but that doesn't mean you can't use them. So that said, I wouldn't trust Credit Karma to do things right. I have noticed a lot more comments like this for CK than I have seen for anything else, not even close, though be very careful to note that (i) the popularity of the solution will affect the number of comments as well, and (ii) there's a lot of room for confirmation bias. There's not necessarily a bright line between this category and what is above, but I think you're much much more likely to notice these problems before you bother to file. (it was messing up FSA contributions and including them in income or something)ĬK also has some missing features: For example, from comments it seems like you can't do multi-state returns, and I also think I remember people saying it can't handle backdoor Roth contributions though I couldn't establish that for sure. (an error with HSA contributions - doesn't say what error but the supposed confirmation from CK is enough to make it to my list) (I'm ignoring things like "my refund went up/down by $2K" and such I want an actual diagnosis.) Here are a couple others that I've seen for Credit Karma: I'm starting to watch for comments in big tax software threads where someone gives a description of what went wrong with some software. When I tried to use it last year I had multiple problems: Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. ![]() ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |