Do You Want To Refinance Your Home Mortgage / Loan? …. Call Now For Mortgage Refinancing Details 877-252-4439
Home Mortgage Refinancing … Even though mortgage interest rates have skipped up a bit in recent months and you may still be wringing your hands and pounding your car steering wheel thinking you missed the euphoric bombshell that was the norm for several years past, all is not lost. Actually the “stars are aligned” in your favor especially if you have an FHA loan you wish to refinance. All that said before we deal with that unique FHA refinance that may be of interest, here are a few “facts and fiction” goodies associated with refinancing any type of mortgage loan via the usual suspects: banks and brokers!
Refinancing Facts:
#1 – If you have a FICO on the north side of 700 and been employed at the same job longer than one year, you’re holding 4 aces and the red carpet is out for you at any lender.
#2 – Only refinance into a “fixed” mortgage loan. Don’t mess with adjustable loans; they’re poison just waiting to bite you in the butt.
#3 – Shop around to at least three lenders including the company that already has your loan. Rates change and vary widely.
#4 – Be firm in the reason you’re considering a refinance loan. You know stuff like paying credit card bills, home improvements….what?
#5 – When you get the fixed interest rate you like, “lock it” for at least 30 days; longer if you can. And don’t pay an extra fee to do so. (See credit info above)
Refinancing Fiction:
A – You can get a refinance loan with NO-closing-costs. Of course you can but one way or the other, you’ll pay for it. Usually it’s by the lender raising you APR (annual percentage rate) which they might cleverly choose not to tell you.
B – Refinance only if you can get a cheaper refinance loan payment schedule by cutting your current rate by 0.5 percent. Think: current rate of 6 percent down to 5.5 percent.
In your dreams this may be good. But by the time all the loan costs are added, you’ve probably gained ZERO. Only consider the refinance if you can gain more than 1 percent or “point.”
FHA Streamline Refinance:
If you currently have an FHA loan and have been prompt in making payments for at least one year, still have a job, and reasonable credit you’ll find this this refinance contains nothing but green lights.
We have nationwide refinancing available for most homeowners, please call our toll free number to speak with a home mortgage refinancing expert that will walk you through the refinancing process and let you know what your options are before you make any decisions. Call now to refinance your home today.
