Posted on: 08th Oct, 2009 08:08 pm
we owned our house for 7 years and never had a problem with payments nor took a second mortgage or credit line. we are looking to refinance and possibly do some cash out or combined credit cards to mortgage to have one payment. with some so many lenders (like lending tree, etc) we don't know who to go to as we hear about mortgage scams and don't know which one is the most reputable. what things should we look for? thanks.
You are correct,who to go with, ut you ahev pick yours.
Looks at the few lenders and see who can give you a good resonalbe deal
Do nto go with some one who promises too mnay things and does not feel like they are resonable
Looks at the few lenders and see who can give you a good resonalbe deal
Do nto go with some one who promises too mnay things and does not feel like they are resonable
Hi lathamshela,
You can contact your current lender and go ahead with a refinance. Just remember that getting a refinance would depend whether or not you've equity in the property. When you apply for a refinance, check out the rates and terms that is being offered to you. You should go for a mortgage shopping and speak to some of the lenders. This will give you an idea what type of rates and terms are prevailing in the market. Thus, you would be able to know whether or not a particular lender is charging you huge fees in order to refinance the loan.
You may even seek a no obligation free mortgage consultation from the lenders of this community. This will help you in knowing whether or not you would get a mortgage. Also, it would help you in knowing the prevailing market rates and terms.
Thanks
You can contact your current lender and go ahead with a refinance. Just remember that getting a refinance would depend whether or not you've equity in the property. When you apply for a refinance, check out the rates and terms that is being offered to you. You should go for a mortgage shopping and speak to some of the lenders. This will give you an idea what type of rates and terms are prevailing in the market. Thus, you would be able to know whether or not a particular lender is charging you huge fees in order to refinance the loan.
You may even seek a no obligation free mortgage consultation from the lenders of this community. This will help you in knowing whether or not you would get a mortgage. Also, it would help you in knowing the prevailing market rates and terms.
Thanks
One more point to keep in mind abotu credit report check
You do nto want all of them to run yoru report, short list few and then ask them run your report around the same time, that way the imapct is only once on your credit report
You do nto want all of them to run yoru report, short list few and then ask them run your report around the same time, that way the imapct is only once on your credit report
if you're happy with your current lender, check with them on what they can offer. if you have family or friends who are trustworthy, you can get referrals from them as well. don't be too concerned with scams - if you've been homeowners for 7 years already, you ought to be able to recognize something that isn't right.
George got a good point