What's the best indication of a good refinance mortgage loan?
- A good refinance mortgage loan will have an interest rate of less than 2%. Anything higher than that is unacceptable. Here's more to guide you: whataboutloans.com / mortgage / mortgage - refinance - loans.html
- Watch your answers and what to believe! Fixed rates are not always the best rates, and some of the Hybrid loans are some of the best loans out there, depending on your situation. I have a hybrid 5 year fixed that is at 6. 625% on 1. 2 million, personally I would rather pay 6. 625% for 5 years, paying the payment I would pay on 7. 25% and drop my principal by $30, 000 then gain equity! Especially while my renter is paying the payment! To answer your question, the best indication is the actual APR, the APR is your loan, plus the costs of the loan divided by the term. If your APR is more tha 1% higher than your actual note rate, you are being over charged. In reality, all loan offficers are "supose" to quote APR's, but, most of them do not know how to calculated them, kind of stupid, hah!
- Low or no closing costs and a great interest rates
- Lower interest rate that is not adjustable, simply put. There is rarely a point in refinancing if you cannot get a better rate than what you currently have, and steer clear of adjustable rates that lure you in with a teaser rate
- fixed rate! no adjustable and surely not a wat is being marketed hyybrid ARM you want a fixed rate mortgage any term that works your APR is not that much different than your interest rate! is a good indacation. look for the best interest rate and APR if you get a great rate and the apr is NOt that far off you have a great loan! try to get the best rate if you have the equity let the lender wrap your closing costs into the loan but be aware of all charges! if they are over charging you it will show with the APR. now if they show yield spread and it looks high just so you know yieldspread is money the bank gives the broker to overcharge you in your rate. i must say they're are many lenders that do not condone this practice. But it is very real a big reason we are in the mortgage mess and the rate of foreclosures are so high is from greedy overzellous brokers and banks
Knowledge Base
where can I find a mortgage refinance if I have bad credit?
it depends on how much equity you have in the house. lendingtree.com, eloan.com refinanace. ameriquestmortgage.com mortgageloan.com. i'd be happy to point you in the direction of a good and fair mortgage broker. i was in the residential lending market for years before moving into commercial real estate. also, if you (mortgage refinance rates)
Do we need to get a new le insurance when we refinance our home mortgage loan?
we bought a le insurance when we first got our home loan. we are now refinancing with another bank and they are requiring us to get a new le insurance. is this right?. i work at a mortgage company, and most banks require le insurance for every mortgage that they (home mortgage refinance loan)
What is the best refinance plan to reduce my monthly mortgage payments?
i am looking for the best plan as in: - not getting my face ripped off in closing cost - not increasing my current interest rate of 5. 8 to something over 8% - not having to pay thousands in points it seems i am having the same dilemna as (home mortgage refinance loan)
Knowledge Base: Mortgage Refinance
I am looking for the best mortgage company for a refinance. Two criteria, low interest rate and low fees. ?
does anyone have any suggestion? where to look, what to stay away from or tricks of the trade. made a poor decision on our present mortgage and do not want to do a repeat. am locked in on present note for 45 more days and then we want out. looking (best refinance mortgage)
Can I refinance a mortgage with bad credit?
i have been in the house 8 years and have a rate of 7 for 30 years. i have bad credit and wonder if it would benefit me to refinance to a lower rate?. no. tom only a lender can tell you for sure. depends on what you mean by (mortgage refinance rates)
How can I get a High - LTV ration mortgage refinance loan?
i have a recently purchased condo in dc with a value that continues to tank with the economy. currently have 2 mortgages on it making the ltv somewhere in the neighborhood of 110 percent. looking to refinance i have relatively high income, excellent credit property value approximately $250, 000 and (best refinance mortgage)
how do i get the best mortgage refinance?
hey kevin, it may sound left field, but i'd go for an interest only mortgage. you can take the difference in payment and put it in a vehicle that's safe, liquid, and earning interest even a savings account. most do not do it because most do not understand the risk (mortgage refinance loans)
best bank to refinance mortgage?
what would be the best bak of choice to refinance my mortgage?. that's a trick question. i would suggest you first ask your regular banking account manager. === if i was paying off a mortgage - and never missed a pymt - ? i'd go shopping for money. where. ? (refinance mortgage bad credit)
Knowledge Base: Mortgage Refinance Loans
One of my mortgage loans is 20k at a rate of 9%. What steps do I take to best refinance the smaller loan?
your first call should be to your mortgage broker and see if you might be able to consolidate your first and second mortgage into a larger primary mortgage first mortgages always have a better rate, but be careful of prepayment penalties on either loan. likely your mortgage broker will help (mortgage refinance loans)
What's the best indication of a good refinance mortgage loan?
lower interest rate that is not adjustable, simply put. there is rarely a point in refinancing if you cannot get a better rate than what you currently have, and steer clear of adjustable rates that lure you in with a teaser rate. fixed rate! no adjustable and surely not a (mortgage refinance loans)
My wife and I are thinking about using Quicken Loans to refinance a mortgage on a rental property. Any advice?
has anyone else experienced quicken loans. this is the first time we have not delt with the "local banker" and we're nervous about the closing over the phone / internet thing. if you can not face them, why would you do business with them. we had a deal once on (mortgage refinance loans)
mortgage refinance?
my husband and i bought a house in october with a no documents loan and ended up having to split our mortgage and have two smaller loans. our mortgage servicer recently called and said that they have been unable to sell our mortgage and would refinance our loan at no (mortgage refinance loans)
How can I get a High - LTV ration mortgage refinance loan?
i have a recently purchased condo in dc with a value that continues to tank with the economy. currently have 2 mortgages on it making the ltv somewhere in the neighborhood of 110 percent. looking to refinance i have relatively high income, excellent credit property value approximately $250, 000 and (mortgage refinance loans)
