Home  Top Stories  Sports  Entertainment  Health News  Business  Personal Finance 
Real Estate  Business Finance  Insurance  Consulting 
Tax News  Forum


 

Writers






 


Featured Articles







BUSINESS



 



 

 

  Credit Repair, Do it yourself guide

 

 



What to Consider when Refinancing a Home - Fixed Home Loans via Brokers

January 17th 2006

What to Consider when Refinancing a Home - Fixed Home Loans via Brokers

Home Loans

There are many things to consider when refinancing your home.  One of the important considerations is who or what company to use when refinancing.  Also speak to your financial consultant before making any decisions.  The refinancing option may not be worth it.

There is a cost associated with refinancing a home.  There are various parties that may take a fee, including a loan broker.  Loan / mortgage brokers can be helpful in shopping for a loan.  You only need to supply your information once and they do the rest.  You save yourself the loss in credit-score by having multiple inquiries on your credit.

Some mortgages have a prepayment penalty.  If your current loan has one of these clauses it will add to the cost of refinancing.  These prepayment penalty clauses should be avoided in your new loan as well. 

 

There are various websites that offer an automated service for determine the best course of action.  You may want to take advantage of some free services including mortgage calculators and home value calculators.  HomeGain and other website will help you determine what your house is worth.  This site is nice because it will tell you what improvements to your home will add the most value.

One of the more popular home loan sites is Lending Tree. They can help determining what your house is worth and get you a number of mortgage quotes.  You may also want to consider buying a new home before you jump into a new mortgage.  If you are considering a new loan, it may be time to consider a new house.  There are various websites that will give detailed descriptions of homes for sale in your area.

 

If you have a adjustable rate mortgage, now may be the time to lock your home into a fixed mortgage, assuming interest rates go up of course.  You may consider consolidating your second mortgage. 

Run a credit history report on yourself, just to make sure there are no mistakes on your report.  By law the three credit reporting agencies have to give you a copy of your credit once a year if it is requested.  Make sure the reports are all accurate.  I have found addresses and names on my report that did not belong.  It is a good idea to check your credit once a year whether you buy a house or not.   

 
Comment on this Article at our Forum

Submit your own Article

All of our Real Estate Information

  RSS Feed to our Real Estate News

  RSS Feed to our Business News

  RSS Feed to all of our News

Add to Google Add to My AOL
Add to My Yahoo! Subscribe with Pluck RSS reader
Subscribe in NewsGator Online
Add this feed to Your C-Net

By Dan Wilson
Best Syndication Staff Writer

Real Estate

Keywords and Misspellings: refinancing refi home loan homeloans refinansing


Google
 
Web BestSyndication.com

About   Contact   site map

Copyright 2005 Best Syndication                                     Last Updated Saturday, July 10, 2010 09:48 PM