Comments on: Mistakes to Avoid With Home Loan Refinance

By: Mayne D

Mayne D — Wed, 08 Jul 2009 21:04:16 +0000

By: don1862

don1862 — Wed, 08 Jul 2009 05:30:48 +0000

because the tail has not caught up with the dog!!!

By: dinofernandez66

dinofernandez66 — Tue, 07 Jul 2009 17:51:59 +0000

find the best rate you can find and then add 1% (1 point is what is the standard to add when dealing with an investment home)

A mortgage broker is supposed to find you the best rate from all the companies she works with. If you don't have a good one shop around.

Here is a website to find the average and best rates:
http://www.bankrate.com/brm/default.asp

By: djkay

djkay — Tue, 07 Jul 2009 15:01:01 +0000

Capitol One is supposed to have good refinance rates. You might also check out Roadloans.com. Keep in mind, you will be financing a used car, so the interest rate is usally higher. If you had to go 30 payments, at least your payment amount would drop. You could always pay more each month, so you would have the note paid in 22 months instead of 30.

By: giddy-up

giddy-up — Tue, 07 Jul 2009 08:49:42 +0000

All of the internet sites will require someone to call you back before you will get any quotes. In fact, without reviewing your credit or at least knowing your score, knowing about your employment/ income, it is impossible to get a reliable quote. I would be happy to converse with you via email to give you quotes if needed.

By: Aero Cat

Aero Cat — Sun, 05 Jul 2009 20:15:59 +0000

I1). If you own a home it doesn't matter whether you have a beacon score of 500 or 800, the mortgage company will try to get your business.

2). The credit bureaus offer a toll-free number that enables you to “opt-out” of having pre-approved credit offers sent to you for two years. Call 1-888-5-OPTOUT (567-8688). Opt out can be permanent or for a limited amount of time (usually five years). It will ask you what you want when you call.

By: auntie-kryst

auntie-kryst — Sun, 05 Jul 2009 17:27:04 +0000

No idea. If you can actually figure that out, you can make a ton of money! Unfortunately, there are only so many ways lenders can contact you. Believe it or not, people respond to some of that stuff. I am in the industry and I only send out personally addressed and written letters. With you, I too open 5-10 of those official looking "bills" or "checks" every dang week.

I hate people blindly stating they can lower my rate and then stating a rate that is higher than what I have now – ridiculous.

Here's to hoping they stop!

Regards,

Joe…

By: honeybaby729

honeybaby729 — Sun, 05 Jul 2009 17:08:13 +0000

These no cost loans, mean no closing costs will be paid by you. But, the lender will give you a higher interest rate so they can afford to pay for those closing costs. Ultmiately whether you like it or not it will end up coming out of your pocket. Typically unless you plan to sell or refi again in the near future it is worth paying the closing costs up front and taking a lower interest rate. It may cost a few thousand at first, but you will end up saving money in the long run if you plan on staying in the property for more than a few years.