Mortgage Refinance-The best rates [mortgagefraud101.blogspot.com]
Question by get-r-done: Who is the best mortgage refinance company? We are looking to combine our first and second mortgage on our home. current first approx. $ 80,000 current second approx $ 60,000 house value @ $ 165,000 would also like to have a little cusion in the bank. With less than perfect credit who is our best choice of lender Best answer for Who is the best mortgage refinance company?:
Answer by Daniel K
Check around but don't forget your bank. Cutting out the middleman might be best.
Answer by E.Yvonne G
I am a loan officer with Mortgage America, I can definately help you refinance. I have Many lenders that will do a re-fi with less than perfect credit. e-mail me at: eygriffin3000@yahoo.com
Answer by bianca
mortgage brokers have access to more lenders than bank alone and they can look for the best loan for you. some banks will not take costumers with less than perfect credit.
Answer by JokerKid613
here's the thing... You're looking for a 90% Loan versus a value at 165k, right there you are going to be in a higher interest rate range. Remember interest rate = RISK... The higher the risk to the lender, the higher the interest rate is going to be. 2nd you state that you have "Less than perfect credit", that is another hit to the interest rate. In cases like this, I most often find it beneficial to actually HELP people understand thier best path. Now, you've been paying on the two mortgages for several months I'm sure, being as you have a 2nd mortgage that is comparable in size to the first, so what's the rush??? You should find a professional who has been in the business for several years and can help direct you in the most financially beneficial direction. Personally, I would work with you on your credit for a month or two and get your scores up. Have you had any lates to the mortgage? If so, when? What other late payments have been made and when? What is your primary source of income? how long have you been on your job? Do you plan to move within the next few years? how old are you? do you have a retirement plan set up? when do you want to retire? I already know you don't have significant savings and that is a concern to you, how can we work together to tackle that issue? What type of lifestyle do you lead/what's important to you? do you have children? what are thier ages? Finally, what is the market like in your area? Are values increasing/decreasing/holding steady??? All these questions are a major concern to you at this point. The only reason I go through all this is so you can see that there is more to it than the simple "What's the best bank for a refinance for a person in my position?". The question should be, "Who knows what they are talking about and isn't just some kid sitting behind a telephone looking to make a quick commission?" Trust me, I used to be that kid until I found out that I wasn't going to be in this job for long if I didn't start liking what I was doing. Find a reputable mortgage broker, one who wants to assist you financially, not just help himself financially. Stay away from large mortgage companies at this point. How do you know the broker is reputable? Well, he'll ask you all those questions I just aked. If you want to talk further email me, I won't even ask for your business :) David
Answer by mmorganloans
Depending on your credit score will give you the best rate. There are alot of companies out there that can re-finance you. I live in Washington State and my company works with over 100 lenders. There are some that are licensed in all states. If you would like more info please email me at mmorganloans@yahoo.com.
Answer by hirebookkeeper
Everyone is giving good answers. Watch the fees!
Answer by rlanicek
PrimeLending, a PlainsCapital Bank company, has been chosen by the Dallas Business Journal as the number one residential mortgage lender in north Texas for the last three years (we loan in 45 states). Rick Lanicek www.primelendingonline.com
Answer by CreditCardMan
Well I think it is a good idea to consolidate those 2 mortgages you can get 4 refinance offers in one form from the site below. I like this approach because your credit is only pulled once which doesn't hurt your score too much, plus you get 4 offers to compare good luck: http://www.halfwayor.com
Answer by mortgageguy
Give me a call at 1-866-597-2968 x11. I'm a mortgage broker with hundreds of lenders to choose from and I'll search for the best rate and terms.
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mortgagefraud101.blogspot.com Getting the Best Refinance Mortgage Rates
Once you have qualified for several lenders, you should authorize those companies only which can provide you with mortgage refinance rates that can prove to be the very best for pulling out your credit.
When your mortgage is refinanced by afterward you you could be in need of considering that you’ll be required paying of the closing costs in addition to some other fees. It is a proven fact that a lot of lenders of mortgages are getting excited about waive such fees for encouraging people who just love the houses to refinance. Having not paid the closing costs can need you to be somewhat careful as in this case you may not be offered good rates for mortgage refinance. So you need to go and shop around locating the rates of mortgage refinance that come up to your expectations and are simply the very best regardless of the fact that you are looking for avoidance from the high closing costs.
You can think it to be the greatest method to get the best rates of the mortgage refinance.The eligibility for that rates of mortgage refinance that you could have actually depends on the loan rating of yours. Having good credit will lead towards finding various lenders competing to provide low rates of mortgage refinance to you. The experts recommend often that refinancing should only be carried out by you when you’re getting the rates which have been two points fewer when compared with what you are paying currently and also a very important factor that can be employed in your favor is having the good credit.
You may want to ponder upon whether if you refinancer then it will turn things bad or good for you personally and this will be required in case of less-than-excellent credit.
If you have a low credit score then it is certain that you may have to pay relatively higher rates of mortgage refinance. Having a bad credit score can cause your disqualification of refinancing. However, specific things can be done by you for improving the likelihood of yours to obtain qualified and acquire best rate for your mortgage refinance.Keep your mortgage must not hold the vulnerability of penalties which have been the “pre-pay†ones. The mortgages tend to be selected through the homeowners that often include the clauses of early-pay or the pre-payment penalty. These penalties often vary in their costs and often it accumulates to a number exceeding 6 month’s interest of the home loan. If you wish to do such refinancing then make sure that the funds that you have should be enough for covering these.
The high closing costs and also the interest levels also needs to receive your attention. It’s quite possible you could possess the less payments from the lender with the options that they’ll have for the mortgage refinancing. Prevent the lender in the event the interest or closing expense is high. These factors hold the major importance in order to decide lender to achieve the mortgage refinance.
This website will give you more information on Mortage Refinance Information as well as learn all the mortgage refinancing mistakes
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