Considering a Mortgage Refinance
Posted by Nick Niesen on October 29th, 2010
If you are looking for a mortgage refinance, it never hurts to shop around for the best rate and deal. Shopping around could mean the difference between paying or saving thousands of dollars in closing costs, and interest fees?.
If time happens to be on your side, and you don?t need to refinance your mortgage immediately, take some time to educate yourself about the mortgage industry.
By educating yourself about the mortgage industry, you are essentially putting yourself into the driver?s seat.
There is so much mortgage jargon, terms, and definitions that will be thrown at you when considering a mortgage refinance, that it is impossible for any one person to understand everything.
It is not necessary to become an expert in the mortgage industry. You just need to have somewhat of an understanding. This way, while you are shopping around for a mortgage refinance, your decision on which lender you want to work with, will be all the more educated.
The mortgage industry is a very competitive one, so by shopping around, and making it clear that you are shopping around to the lenders or brokers you are dealing with, they will be forced to come back at you with the best deal possible. They know that they are competing with other mortgage companies, and they will not want anyone else to get your business, so they will offer you the best rate available to them in order to keep your business.
Keep in mind when a loan officer or broker offers you a deal that sounds too good to be true, it just may be, so be careful. You don?t want to get to the closing table only to find out you are not getting what you thought you were getting.
Remember, before you commit to a lender, ask for everything they told you to be sent to you in writing, this way you won?t have any surprises at the table.
This is why it is so important to educate yourself about the mortgage industry.
With just a fair amount of knowledge, you will have a general understanding of what you are being offered, and you will be able to determine whether or not the deal is reasonable.
My suggestion to you would be to allow for up to four loan officers or brokers to assess your situation. Whichever one comes back with the best, and most reasonable deal, should be the one for you to consider.
About the AuthorNick Niesen
Joined: April 29th, 2015
Articles Posted: 33,848
Ukulele Lessons - How to Play the Uke!
Learn to play the songs you love, easy video lessons for beginners. Instructions for strumming, chords and more.
N°1 Top Internet Acoustic Blues Guitar Instructor
These 37 complete lessons encapsulate everything learned from playing as a professional blues player over the past 40 years, and contain everything you need learn to play old style blues guitar in exactly the same way.
Advanced Photoshop tutorials on how to create professional looking photos. Learn the secrets of color grading and photo manipulation!
Organize Your Photos - Save your photos...and your sanity!
Discover hot to finally organize and protect your entire photo and memorabilia collection without losing your mind!
Guitar Control | 3 Secrets to Killer Guitar Control by Claude Johnson
Choose our Killer Guitar Control Secrets course to learn how to master the basic skills and advanced playing techniques!
Oil Painting Master Series | A Complete Course for Beginners
Learn How To Paint With Oils Taught By Expert Artist And Teacher Ashley Bane Hurst. A Course Designed For Beginners To Intermediate Artists Looking To Get Started With Oil Paints.