best time to refinance!!???

Question

when u rifinance do u go with the banks that are already giving u the loans or u go to a rifinance company i have a two banks financing my home on is for a higher amount the other for a smaller amount how can i get one bill and how do i goa about refiancing

Answer 1

you can go will a mortgage broker. they will try and find you the best deal with the lowest interest rate and payments. when you refinance you can have one bill. shot me an email i'm a loan officer i may be able to help you with your refinance.

Answer 2

You may choose any lender you like to refinance your mortgages. You need to do some shopping for a good mortgage lender, not just the lowest rate.

Shop by Annual percentage rate as disclosed on a Truth In Lending Disclosure. Run, don't walk, away from any loan office who won't give you that form prior to application. The closer the APR is to the interest rate you are quoted, the more cost effective the financing.

Look for a loan officer who is truly concerned with your best interests not just the amount of commission they are going to make on your loan. The right one will spend a lot of time educating you as to your options not just telling you what to do. This is your loan, the choices belong to you and their responsibility is to give you enough information to make an informed decision.

When you refinance, the new loan will pay off the old loans and you will have just one payment. Given you have sufficient equity in the home your loan costs may be included in the new amount to be financed and you should have to pay nothing out of pocket. Avoid those who have application deposits or make you pay for an appraisal or credit report up front.

Answer 3

you can go to either bank, a mortgage company, or anyone who deals with refinancing. The purpose of refinancing is to lower the loan payment, or to use the equity in your home to pay of bills, ect. If you are going to refinance and combine the loans, I would check and see if you are going to get a good rate first, is it going to cost more. Then I would find a company that is reputable for refinancing.

Answer 4

it depends on your credit score, mortgage history and the LTV in your home. i would go with a big bank if you have good credit, mortgage brokers tend to not give full details of the loan until you come to closing. direct lenders will go over everything with you without any secrets.

either way go for the best benefit, whether its lowering your payments, getting cash out, more importantly get rid of credit card debt if you have any.

Answer 5

Well, it all depends on the program you choose. There are so many different ways you can save money and get low payments, please visit our web site www.dmfund.com or email me at [e-mail]