TopConsumerReviews.com Best Mortgage Refinance Programs
      June 17, 2019

Home  >  Mortgage Refinance  >  Articles

Best Mortgage

Refinance Programs

  1. Quicken Loans
  2. The Easy Loan Site
  3. Rate Marketplace
  4. Mortgage Srch 123
  5. Lower My Bills

Compare Products

  • Select any 2 companies in our reviews to compare them head-to-head!
  • Compare

Your Information Is Secure
Mortgages: The Complete Guide Newsletter

Latest Reviews

Cruise Vacations

Fruit Baskets

Government Grants

Learn to Read Programs

Menopause Relief

Online Fitness

Paid Surveys

Personal Trainers

Pet Meds

Scabies

 

Related Articles

The Basics of Refinancing Your Home Mortgage

What to Know Before Refinance Your Home Mortgage

The Latest News in Home Mortgage Refinancing

 

Top Consumer Reviews Articles

TopConsumerReviews.com provides unique articles that you won't find anywhere else on the internet. These articles are designed to help you make the most informed decisions possible.

What to Know Before Refinancing Your Mortgage

Information is power. Before refinancing your home, make sure you are armed with enough information to make good decisions and get the best deal.

Know what banks are requiring from you. Before starting the paperwork, go online and determine what information a lender is going to need from you in order to refinance your mortgage and start making a file and a list. That way, you're prepared and don't waste time or money.

Find out how much your home is worth. Home property values have plummeted across the nation. If you haven't had your home assessed in the past couple of years, do so early in the process so you know whether you have any equity in the home or whether you are “under water,” meaning you owe more on the loan than the home is worth. Knowing this information will keep you from being taken by surprise later and help you make the right decision in regards to your mortgage.

Check your credit. Request a copy of your credit report and credit history before beginning the refinancing process. This will prevent you from being surprised and give you a chance to clear up any problems. While you may not think you have a credit problem because you have little debt and pay all your bills on time, frequently borrowers with little debt can wind up with a lower score because they have less of a record of credit.

Research the rates and the costs associated with refinancing. While interest rates on home mortgages are now at record lows, the closing costs on the mortgage can be high enough to dissuade you. Some banks are actually raising their closing costs in order to control the number of people wanting to refinance and reduce the number of loans they have to process. Refinancing costs such as closing costs, inspection fees, application fees and other costs can equal 4-6 percent of the principal on the loan.

Allow plenty of time. With interest rates this low, the number of people wanting to refinance has increased greatly. Consequently, the amount of time it takes for the lenders to process mortgage applications has increased greatly. It used to take 30 days. In some parts of the country, it has increased up to 45-90 days.

If you're interested in refinancing, be sure to go online and research all of your options. Not only should you research interests, fees and costs but be sure to also review what other consumers said about doing business with the lenders. Armed with information from a variety of lenders, you will be in a position to negotiate to get the best possible terms.

Mortgage Applications, Refinances Surge After Interest Rate Drop

According to the Mortgage Bankers Association, applications for mortgage loans are up more than 26% compared to this time last week. The jump comes after rates dipped to 3.82% last week-their lowest ...

Published:  Fri, 14 Jun 2019 08:50:00 GMT



Applications for mortgages, refinancing spike amid low interest rates

Amid the lowest mortgage rates in almost two years, overall mortgage applications swelled last week by nearly 27 percent, according to data released Wednesday. Applications to refinance homes ...

Published:  Sat, 15 Jun 2019 07:38:00 GMT



Quicken Loans to pay $32.5 million to resolve mortgage suit

Quicken Loans to pay $32.5 million to resolve mortgage suit In April 2015, the United States accused Quicken Loans of improperly originating and underwriting mortgages insured by the FHA. Check out ...

Published:  Fri, 14 Jun 2019 08:54:00 GMT



The Mortgage Professor: Falling interest rates encourage refinancing but often for the wrong reason

The usual reasons to refinance are to reduce the monthly payment or to raise cash. A third reason which is underappreciated is to shorten the period of indebtedness. The third motive is seldom acted ...

Published:  Fri, 14 Jun 2019 00:17:00 GMT



Mortgage rates are dropping - so why aren't more people buying homes?

Don't miss: With mortgage rates at 2-year lows, here's how to decide whether to refinance your home loan And yet, consumers haven't shown much interest in buying homes these days. Last week, mortgage ...

Published:  Fri, 14 Jun 2019 08:54:00 GMT



This is how loans and mortgages worked in Greenville's early history

"A penny saved is a penny earned," wrote Benjamin Franklin in "Poor Richard's Almanac." Most Americans have agreed, especially if those pennies are spent buying a home, thus (according to the sages) ...

Published:  Sat, 15 Jun 2019 14:58:00 GMT



Quicken Loans To Pay $32.5M To Settle Lawsuit Over Bad Mortgages

DETROIT (CBS DETROIT/ AP) - A lawsuit accusing Quicken Loans of fraudulently sticking the government with bad mortgages settled Friday at $32.5 million. The case was dismissed by a Detroit ...

Published:  Fri, 14 Jun 2019 12:19:00 GMT



Share Us!    Share TopConsumerReviews.com on Twitter Share TopConsumerReviews.com on LinkedIn Share TopConsumerReviews.com on Google+ Share TopConsumerReviews.com on Pinterest

Home      About Us      Terms & Conditions      Privacy Policy      Contact Us      Disclosure