http://www.refiadvisor.com/pblog What every homeowner should know before refinancing a mortgage. Wed, 30 Apr 2008 22:52:57 +0000 http://backend.userland.com/rss092 en Are you a homeowner in need of cash and are considering taking out equity in your home? Borrowing against your home’s equity is a way to consolidate bills, pay medical or educational expenses, or make home repairs. Understanding the different types of home equity loans will help you ... http://www.refiadvisor.com/pblog/home-equity-loan/cash-out-mortgage-refinancing-pros-and-cons/ If you are in the process of refinancing your home and are searching for information about mortgage rates there are several things you need to know about the rate quotes you receive. Most homeowners don’t realize that 90% of the rate quotes they receive from mortgage brokers and on ... http://www.refiadvisor.com/pblog/interest-rates/30-year-mortgage-rates/ Points are one of the most misunderstood aspects of mortgage loans. In the simplest definition mortgage points are a percentage of your loan amount due at closing for one of two possible reasons. Here are the basics you need to know about mortgage points and how you can ... http://www.refiadvisor.com/pblog/points/the-hidden-cost-of-mortgage-points-when-refinancing/ If you're considering a “no cost” or “no fee” mortgage loan for your home loan there are several things you need to know about these loans to avoid paying too much. Whenever lenders talk about “no fee” mortgage loans they are always trading off a higher mortgage rate in ... http://www.refiadvisor.com/pblog/banks/no-fee-mortgage-loans-don%e2%80%99t-exist/ Home mortgage rates are at near all time lows and many of you might be wondering how to predict when they will bottom out. Mortgage interest rates are extremely difficult to predict; sometimes when the Federal Reserve lowers short term interest rates mortgage interest rates actually go up. ... http://www.refiadvisor.com/pblog/ysp/mortgage-rates-predictions/ Most people think that to find the lowest mortgage rates you have to find the best mortgage lender and this just simply isn’t the case. The person arranging your loan has more to do with your mortgage rate than you think…choose the wrong person for the job and you’ll ... http://www.refiadvisor.com/pblog/mortgage-broker/get-lowest-mortgage-rates/ If you are looking for a mortgage company for your South Carolina home loan there are several things you should know about rate quotes before choosing one. The rate quotes you receive on the Internet and from your South Carolina mortgage companies all include commission based markup that could ... http://www.refiadvisor.com/pblog/refinancing-advice/south-carolina-mortgage-company/ If you’re like many Florida homeowners refinancing mortgage loans, finding the lowest mortgage rate is your primary concern when refinancing. Getting the lowest possible Florida mortgage rates takes more than just comparison shopping; you’ll need to understand how rate quotes work to get the best deal. Here are ... http://www.refiadvisor.com/pblog/points/florida-mortgage-rates/ If you are considering refinancing your mortgage and want the best Florida mortgage rates, there are several things you need to know about the rate quotes you receive. The quotes you receive over the Internet and from your mortgage broker all include commission based markup that could result in your ... http://www.refiadvisor.com/pblog/ysp/florida-mortgage-refinancing/ Mortgage rate locking can be a source of confusion for many homeowners. Lock at the wrong time and you could miss out on a good rate…fail to close before the lock expires and you could miss your rate all together. Locking your mortgage rate when refinancing is more ... http://www.refiadvisor.com/pblog/mortgage/locking-your-mortgage-rate/ If you’ve decided to refinance your mortgage you might not know where to get started. Choosing the best lender for your home loan is important; however, finding a mortgage rate that does not include commission based markup will save you money…and more than you think. Here are the ... http://www.refiadvisor.com/pblog/ysp/low-mortgage-rate-refinance/ Most homeowners don’t understand how their mortgage broker is paid for the work they do arranging a home loan. Brokers are compensated for their work from two sources; understanding how this compensation works will help you avoid paying too much for your next mortgage loan. Here are several ... http://www.refiadvisor.com/pblog/refinancing-advice/ysp-mortgage-broker-payment/ If you’re considering refinancing your home loan, finding the best lender is probably at the top of your to-do list for the loan. Finding the best lender will help you get the lowest mortgage rate refinancing your loan. Here are several tips to help you get the best ... http://www.refiadvisor.com/pblog/ysp/mortgage-rate-refinancing/ If you’re in the process of refinancing your home you can save yourself thousands of dollars by getting a wholesale mortgage rate. The problem for many homeowners is that that they don’t know how get wholesale rates; most mortgage brokers would simply laugh at you if you told ... http://www.refiadvisor.com/pblog/mortgage-tutorial/how-to-negotiate-with-your-mortgage-broker-2/ The first thing you should know about getting the best deal when refinancing your home loan is that you cannot bypass the middleman to get a wholesale rate. It doesn’t matter which wholesale lender you try and contact when refinancing…every lender has retail divisions that deal with the public. ... http://www.refiadvisor.com/pblog/mortgage-advice/how-to-get-a-wholesale-mortgage-lender/ Most homeowners know very little about how mortgage brokers are compensated for their work. They assume that the origination fee listed on their Good Faith Estimate is the broker’s commission for the home loan; however, what you don’t know about mortgage broker fees could cost you a lot of ... http://www.refiadvisor.com/pblog/mortgage-broker/how-to-shop-for-a-mortgage-broker-when-refinancing/ You might be asking yourself “What the heck is a Broker Bank?” Most people have never heard of broker banks…in fact, prior to 1999 they didn’t exist. Here are the basics that every homeowner needs to know about Mortgage Broker Banks when refinancing a home loan. Before the Real ... http://www.refiadvisor.com/pblog/banks/avoid-broker-banks-when-refinancing-your-mortgage/ Locking in your mortgage rate can be a source of confusion and frustration for many homeowners. When and how do you lock in your mortgage rate? How do you know that your mortgage broker really locked in your rate? Mortgage rates change on a daily even hourly ... http://www.refiadvisor.com/pblog/mortgage-rate/locking-a-rate-when-refinancing-your-mortgage/ If you’re in the process of shopping for a lender to refinance an existing mortgage or for a loan to purchase your home, there are several things you need to know about prospective mortgage lenders. Doing a bit of homework before your refinance will not only help you avoid ... http://www.refiadvisor.com/pblog/mortgage-advice/how-to-shop-for-the-best-mortgage-lender/ If you’re considering refinancing your mortgage there are a number of reasons for taking out a new home loan. Some people choose to refinance because of a financial hardship, others want to borrow cash against the equity in their homes; however, the most common reason is to get a ... http://www.refiadvisor.com/pblog/mortgage-advice/four-tips-to-lower-your-mortgage-payment-when-refinancing/ When the Federal Reserve lowers short term interest rates mortgage refinancing becomes a hot topic for many homeowners. If you are considering refinancing your mortgage but are concerned about paying too much there are several things you need to know about shopping for a new home loan. Here ... http://www.refiadvisor.com/pblog/mortgage/refinancing-home-loan/ If you are considering refinancing your mortgage you might wonder what valid reasons are for taking out a new home loan. There are a number of different reasons people choose to refinance their mortgage loans; with mortgage rates at the lowest levels since 2004, now is the perfect time ... http://www.refiadvisor.com/pblog/mortgage-tutorial/reasons-to-refinance/ You might hear people talking about Par mortgage rates from time to time but what does Par mean? Par simply means a mortgage rate with no discount points or Yield Spread Premium attached. This is the rate you want when refinancing or taking out a new loan to ... http://www.refiadvisor.com/pblog/mortgage-tutorial/what-are-par-mortgage-rates/ http://www.refiadvisor.com/pblog/mortgage/no-cost-mortgage-refinancing-is-just-a-marketing-trick/ Are you considering taking out a new mortgage to refinance you existing loan and want the lowest possible mortgage rate? Did you know that wholesale mortgage are available to the average homeowner who knows how to get them and can save thousands of dollars? Here are several tips ... http://www.refiadvisor.com/pblog/mortgage-tutorial/how-mortgage-rates-work/ The Federal Reserve Cut Interest Rates Again Today For The Second Time In Eight Days…Should You Refinance Your Mortgage Now? With all the talk of interest rate cuts refinancing has become a hot topic for many homeowners. Here are the answers to several common questions regarding the current rate cuts ... http://www.refiadvisor.com/pblog/mortgage-rate/the-fed-rate-cut-and-refinancing-your-mortgage/ Wells Fargo Mortgage is a division of Wells Fargo Bank, one of the largest banks created following a merger with Norwest bank and is currently the second largest mortgage lender behind Countrywide home loans. Are you considering refinancing with Wells Fargo Mortgage or do you already have a mortgage ... http://www.refiadvisor.com/pblog/banks/wells-fargo-mortgage-2/ You can’t turn on the television these days without hearing about how low mortgage rates are. Following a series of interest rate cuts by the Federal Reserve, mortgage rates are at their lowest levels since 2004... but how do you know if a new mortgage is right for your ... http://www.refiadvisor.com/pblog/mortgage-tutorial/when-does-mortgage-refinancing-make-sense/ You may have heard in the news that Bank of America recently acquired Countrywide, the largest mortgage lender in the United States. Given the fact that Countrywide was on the verge of collapse and being investigated for predatory lending practices that caused a financial nightmare for countless American homeowners, ... http://www.refiadvisor.com/pblog/bank-of-america/countrywide-home-loans/ Since mortgage rates have been in near freefall this week several people have asked me about breaking mortgage rate locks. Here’s the skinny you need to know about locking in your mortgage rate. Can you break your mortgage rate lock and walk away from the table at any time? While most ... http://www.refiadvisor.com/pblog/mortgage-rate-lock/can-you-break-your-mortgage-rate-lock/ Mortgage Rates fell again today, down to 5.0% from yesterday’s 5.25% ...this is the lowest that mortgages rates have been since 2004. Can you find a rate like this shopping online or from your bank? The short answer is no, never. Rate quotes you receive online all have retail markup ... http://www.refiadvisor.com/pblog/mortgage-rate/mortgage-rates-update/ Every time you turn on the television these days it seems like the news is bad. Today the story was “World Markets Plummet” like a newspaper headline from a comic book. While today’s news may be filled with stories of higher unemployment and a faltering economy, there is ... http://www.refiadvisor.com/pblog/mortgage/refinancing-your-mortgage-loan-during-a-recession/ If you’re considering refinancing your home loan with a mortgage broker there are several things you need to know in order to avoid paying too much. Mortgage brokers can be an excellent resource for finding loan offers you wouldn’t have access to on your own; however, unless you know ... http://www.refiadvisor.com/pblog/ysp/mortgage-broker-secrets/ If you’re refinancing your home loan in the State of California and are looking for a wholesale mortgage lender, there are several things you need to know about wholesale interest rates. Most homeowners do not understand how mortgage rates are quoted and overpay thousands of dollars every time they ... http://www.refiadvisor.com/pblog/california-home-loan/california-wholesale-lender/ If you are in the process of refinancing and are considering interest only mortgages, there are several things you should know to reduce your risk. Interest only mortgages are suitable for homeowners that need a low monthly payment for a short period of time; however, these loans are often ... http://www.refiadvisor.com/pblog/arm/interest-only-mortgages/ If you’re looking for an online savings account, ING Direct’s Orange Savings account is the Cadillac of online accounts. Most banks are offering some type of online savings account today; however, very few offer the same features and the Orange account. Here are my experiences with ING and ... http://www.refiadvisor.com/pblog/banks/online-savings-account-save-for-a-rainy-day/ If you’re in the process of refinancing your mortgage with a broker, the answer to this question is important if you want to avoid paying too much for your new home loan. The compensation your broker receives for originating your mortgage is not only based on the fee you ... http://www.refiadvisor.com/pblog/points/how-is-your-mortgage-broker-paid/ If you’re considering taking out a mortgage to purchase your home or refinance your existing mortgage with a bank like Wells Fargo, here are several things to consider first. Refinancing with the wrong lender could not only cost you thousands of dollars but could lead to the loss of ... http://www.refiadvisor.com/pblog/banks/wells-fargo-mortgage/ The average homeowner in the United States refinances every four to five years for a variety of different reasons. Many people refinance to lower their mortgage rate; however, consolidating bills or borrowing cash are also good reasons for refinancing. Is mortgage refinancing right for you? Here are ... http://www.refiadvisor.com/pblog/mortgage-rate/should-you-refinance-your-mortgage/ Your monthly mortgage payment amount is determined by the amount you borrowed and the mortgage you qualified. Mortgage rates are currently at their lowest levels since 2005; if your financial situation has changed since you purchased your home you could significantly lower your payment with a lower mortgage rate. ... http://www.refiadvisor.com/pblog/announcements/mortgage-rates-at-lowest-levels-since-2005/ If you are in the process of refinancing your mortgage you might encounter POC charges. POC stands for “Paid Outside of Closing” and is a fee paid to your mortgage broker. Why does your broker receive this money and should you be concerned about how it affects your mortgage ... http://www.refiadvisor.com/pblog/mortgage/poc-mortgage/ If you’re in the process of refinancing your mortgage loan researching current mortgage rates won’t save you a dime unless you fully understand how mortgage rates are quoted. The rate quotes you collect on the Internet and by calling around from the yellow pages are retail quotes that include ... http://www.refiadvisor.com/pblog/mortgage/current-mortgage-rates/ Many homeowners have a difficult time choosing which type of loan is best when refinancing their homes. Taking out a new 30 year fixed rate cookie cutter mortgage every time you refinance may not be the best move for your situation. Here are several tips to help ... http://www.refiadvisor.com/pblog/refinancing-advice/how-to-refinance-a-mortgage-2/ If you’re in the process of closing on a new mortgage loan to purchase your home or refinance an existing mortgage, you might find the paperwork provided confusing and misleading. You may have already received a copy of the Good Faith Estimate from your mortgage broker and are finding ... http://www.refiadvisor.com/pblog/mortgage/how-to-read-your-hud-1-settlement-statement/ Refinancing your mortgage with a wholesale mortgage rate can save you thousands of dollars in unnecessary finance charges. By doing your homework before refinancing you will not only learn how to take advantage of the wholesale nature of mortgage interest rates, but learn how to avoid the junk fees added ... http://www.refiadvisor.com/pblog/refinancing-advice/how-to-refinance-with-a-wholesale-mortgage-rate/ If you are considering refinancing your mortgage with a nationwide home mortgage loan company, there are several things you need to know about the junk fees you’ll be paying. Nationwide mortgage companies like Countrywide are notorious for overcharging and taking advantage of their borrowers. Here are several tips ... http://www.refiadvisor.com/pblog/mortgage-tutorial/nationwide-home-mortgage-loan-company/ If you are considering refinancing your mortgage you might wonder what steps you should take to ensure that you get a good deal on your next home loan. Doing your homework before refinancing will not only save you thousands of dollars, but could prevent many future headaches in the ... http://www.refiadvisor.com/pblog/mortgage/steps-in-refinancing-mortgage/ The Internet is an excellent tool for refinancing your home mortgage and can save you thousands of dollars; however, you need to know that big named mortgage companies run scams online every day. These are companies you see advertising on television and if you’re not careful you could overpay ... http://www.refiadvisor.com/pblog/mortgage/beware-internet-mortgage-scams/ Coming up with the necessary down payment to purchase your home can be difficult. For many people achieving the dream of homeownership is only possible with a 100% mortgage loan. Here are the basics you need to know about so called “no money down” or “no down payment” ... http://www.refiadvisor.com/pblog/mortgage/100-mortgage-financing/ If you’re in the market for a new mortgage and are searching for lower mortgage rates, there are several things you need to know about the rate quotes you receive. Many homeowners think that comparing offers from several different lenders is all they need to get the best deal; ... http://www.refiadvisor.com/pblog/interest-rates/lower-mortgage-rates/ If you’re considering refinancing your mortgage for any reason and are thinking of taking out the new loan from your bank, there are several very good reasons why you should not do this. While it’s true that mortgage brokers have a reputation for overcharging their customers, banks are actually worse ... http://www.refiadvisor.com/pblog/mortgage/why-you-should-never-refinance-your-mortgage-with-a-bank/ Many homeowners rely on the Good Faith Estimate when comparison shopping for a mortgage loan. While it’s true that the Good Faith Estimate gives you more information than the Annual Percentage Rate (APR) there are important limitations you need to be aware of before choosing a lender based on ... http://www.refiadvisor.com/pblog/mortgage-tutorial/sample-good-faith-estimate/ No fee mortgage refinancing simply doesn’t exist. You’ll see advertisers on television like Bank of America bragging about their no cost, no fee mortgages; however, no cost mortgage refinancing is a lie. Here is the truth you need to know about no fee mortgage refinancing to prevent falling ... http://www.refiadvisor.com/pblog/mortgage-tutorial/no-fee-mortgages/ If you are in the process of refinancing your mortgage, negotiating for mortgage rates can be very intimidating. You can greatly improve the odds of negotiating successfully by understanding how your mortgage rate is quoted. Here are the basics you need to know about mortgage rates to help ... http://www.refiadvisor.com/pblog/mortgage/how-to-negotiate-for-the-best-mortgage-rate-when-refinancing/ If you purchased your home with an option adjustable rate mortgage because you needed the lowest payment possible you should be very concerned about all the trouble brewing in the mortgage industry. When your option ARM begins resetting coupled with the declining values of homes across the country it ... http://www.refiadvisor.com/pblog/mortgage-tutorial/refinance-your-option-adjustable-rate-mortgage/ If you’re in the process of refinancing your mortgage you might be losing sleep over your rate lock. Last week mortgage rates rose from 5.6% to 5.8% almost overnight. If you didn’t lock your rate in writing you’re looking at higher mortgage rates this week. Here are ... http://www.refiadvisor.com/pblog/mortgage-rate-lock/mortgage-rates-locking-in-your-interest-rate/ Mortgage loans can be confusing and intimidating for many homeowners. Terminology like APR is not only confusing, but in the case of Annual Percentage Rate is misleading. Here are the basics you need to know about Annual Percentage Rate (APR) and your mortgage rate when comparison shopping loan ... http://www.refiadvisor.com/pblog/apr/mortgage-rate-and-apr/ The mortgage quotes you receive when shopping for a new lender do not give you the actual interest rate you qualify when refinancing. The rate quotes you get are “retail” mortgage quotes that include unnecessary commission based markup. Here are several tips to help you understand how mortgage ... http://www.refiadvisor.com/pblog/mortgage-rate/understanding-mortgage-rate-quotes/ If you are in the process of purchasing your home or refinancing your existing mortgage you will most likely encounter the term “points.” What are points and is it ever in your best interest to fork over additional cash at closing? Here are the basics you need to ... http://www.refiadvisor.com/pblog/points/mortgage-points-what-you-need-to-know/ If you are a homeowner paying on an Adjustable Rate Mortgage, refinancing could help you avoid a financial nightmare. Many homeowners don’t know when their Adjustable Rate Mortgages are scheduled to reset and experience payment shock when their monthly payment goes up by several hundred dollars. Here are ... http://www.refiadvisor.com/pblog/arm/time-to-refinance-adjustable-rate-mortgage/ Many homeowners wonder if taking out a new mortgage during the holidays is a good idea. If you’re considering refinancing this holiday season, there are a number of very good opportunities available for savvy homeowners. Here are several tips to help you make an informed decision if refinancing ... http://www.refiadvisor.com/pblog/good-faith-estimate/mortgage-refinancing-during-the-holidays/ Many homeowners have never heard of Yield Spread Premium and do not understand why their mortgage rate is marked up. Yield Spread Premium sounds complicated; however, once you understand why it’s there, you can avoid paying this unnecessary markup. Cutting the fat from your mortgage rate by as ... http://www.refiadvisor.com/pblog/ysp/mortgage-yield-spread-premium-for-dummies/ The mortgage industry is undergoing the worst crisis lenders have ever faced; if you’re considering refinancing your mortgage it’s more important than ever do your homework and choose an honest lender. Here five common mortgage refinancing mistakes you need to avoid in order avoiding paying too much for your ... http://www.refiadvisor.com/pblog/refinancing-advice/mortgage-refinancing-five-common-mistakes/ If you are in the market for a mortgage to purchase your home or refinance an existing mortgage doing your homework will help you find the best mortgage for your situation. Doing your homework means researching how mortgage companies and brokers make their money and how this compensation affects ... http://www.refiadvisor.com/pblog/mortgage-tutorial/find-the-best-mortgage/ If you are a homeowner struggling with the payments for your second mortgage loan, low mortgage rates could help you take back your budget by combining your first and second mortgage into one payment. When your home is secured by only one loan you will qualify for a lower ... http://www.refiadvisor.com/pblog/mortgage-tutorial/how-to-refinance-your-second-mortgage-loan/ If you are homeowner contemplating a second mortgage loan or mortgage refinancing and don’t know which is the better option, here are several tips to help you make an informed decision. Both options have advantages and disadvantages depending on your situation. Mortgage rates are at very low levels ... http://www.refiadvisor.com/pblog/mortgage/mortgage-refinancing-vs-second-mortgage-loan/ If you are in the process of taking out a mortgage to purchase your home or refinance an existing mortgage, doing your homework can save you thousands of dollars by avoiding expensive pitfalls in the loan process. If you’re looking for mortgage loan assistance for your new loan the ... http://www.refiadvisor.com/pblog/announcements/mortgage-loan-assistance/ The FHA Secure mortgage program helps homeowners who are falling behind on their Adjustable Rate Mortgages and could be risking foreclosure. This program is currently limited to homeowners that purchased their homes with Adjustable Rate Mortgages scheduled to reset; however, it could be expanded in the future to include ... http://www.refiadvisor.com/pblog/announcements/fha-secure-refinance/ If you are in the process of refinancing your mortgage, a wholesale mortgage lender can save you thousands of dollars. Many homeowners refinance with their bank or local mortgage company and don’t realize they are really getting a retail mortgage rate. Even Internet lenders offer retail mortgage ... http://www.refiadvisor.com/pblog/mortgage-tutorial/mortgage-refinancing-wholesale-rate/ If you’re in the process of refinancing your home mortgage loan, understanding how mortgage rate quotes work will help you recognize a good deal when you find one. In order to comparison shop effectively it is important that you know how loan originators work and how they are compensated. ... http://www.refiadvisor.com/pblog/mortgage-rate/mortgage-rates-secrets/ If you are considering 100 percent financing to purchase your home because you lack the necessary down payment, 8020 mortgages could help you secure the loan you need. Here are the basics you need to know about 8020 mortgages to help you decide if this type of loan is ... http://www.refiadvisor.com/pblog/mortgage/8020-mortgage/ If you are considering a new mortgage to refinance your existing loan, the Internet can be an excellent resource for finding a new mortgage. The problem with using the Internet to find a lender is that there are always people trying to help themselves to your money in the ... http://www.refiadvisor.com/pblog/refinancing-advice/online-lenders-and-mortgages/ Mortgage refinancing offers many advantages and potential savings; however, there are a number of risks and expenses that you should keep in mind. If you are refinancing because your existing mortgage has an adjustable interest rate you can minimize your risks by choosing a mortgage with a fixed interest ... http://www.refiadvisor.com/pblog/refinancing-advice/minimizing-mortgage-refinancing-risks/ If you are in the market to refinance your existing home mortgage you might be considering the pros and cons of a fixed rate mortgage over their adjustable rate counterparts. Fixed rate mortgage loans can give you financial peace of mind knowing that your payment will not change over ... http://www.refiadvisor.com/pblog/mortgage-rate/fixed-rate-mortgage-refinancing-2/ If you are in the market for a new mortgage loan and are looking for refinancing advice to get the best deal for your new mortgage, the best bit of advice I can give you is to avoid paying Yield Spread Premium on your new loan. Never heard of ... http://www.refiadvisor.com/pblog/refinancing-advice/mortgage-refinancing-advice-2/ If you used an adjustable rate mortgage to purchase your home or are considering refinancing your existing loan with an Adjustable Rate Mortgage, there are several things you need to know to protect yourself from economic uncertainty. Many homeowners view Adjustable Rate Mortgages as an unnecessary financial risk and ... http://www.refiadvisor.com/pblog/interest-rates/mortgage-refinancing-adjustable-interest-rates/ If you are considering mortgage refinancing it is well worth your time to review your credit before you contact lenders. Your credit scores influences not only the type of mortgage products you will qualify, but how much each loan will cost you. Before applying for a new mortgage ... http://www.refiadvisor.com/pblog/interest-rates/mortgage-rates-your-credit-score/ You’ve probably seen the television ads claiming that no cost mortgage refinancing is “a no brainer.” Advertisers love to claim that they’ll pay your closing costs and offer zero cost refinancing. Most homeowners responding to these offers don’t realize how much of a lie no cost refinancing ... http://www.refiadvisor.com/pblog/mortgage-tutorial/deceptive-mortgage-advertising/ If you are in the market for a new purchase mortgage or are refinancing your existing mortgage loan, a mortgage calculator is a useful tool for determining your borrowing ability. Using a mortgage calculator is not difficult and can quickly tell your monthly payment amount including taxes and insurance ... http://www.refiadvisor.com/pblog/mortgage-calculator/quickly-determine-your-borrowing-capacity/ If you are considering using a mortgage broker to refinance your home mortgage loan, there are several things you need to know before choosing a broker. Mortgage brokers are very similar to used car salesmen as the more you pay the higher their commission will be. Mortgage lenders ... http://www.refiadvisor.com/pblog/mortgage-broker/mortgage-broker-refinancing-what-you-need-to-know/ What’s a good reason for refinancing your mortgage loan? Is it always to get the lowest payment or are there other reasons for taking out a new home loan? Many people will tell you that you should “Never” refinance your mortgage unless the new mortgage rate is at ... http://www.refiadvisor.com/pblog/announcements/mortgage-refinancing-common-sense/ If you’re shopping mortgage interest rates to purchase your home or refinance an existing mortgage there are several things you need to know to avoid paying too much for the loan. Here are several tips to help you qualify for the best mortgage rate without being taken advantage of ... http://www.refiadvisor.com/pblog/mortgage/mortgage-rates-what-you-need-to-know/ If you’re in the market for a new mortgage loan there are several things you need to know in order to avoid paying too much. Many of these so called “secrets” are things your mortgage lender and broker don’t want you to now and certainly don’t want to talk ... http://www.refiadvisor.com/pblog/announcements/mortgage-secrets/ Rather than looking at the big picture when refinancing their mortgages many homeowners obsess over interest rates without fully understanding how mortgage rates work. This creates a number of problems when refinancing including paying unnecessary fees and markup of your mortgage rate. Here are several tips to demystify mortgage ... http://www.refiadvisor.com/pblog/mortgage-tutorial/mortgage-rates/ You’ve probably been hearing about the credit crisis in the mortgage industry recently and a number of people have been asking me what’s really happening. While it’s true the meltdown of the sub-prime or bad credit mortgage industry is affecting conventional mortgage lenders, the impact is not as bad ... http://www.refiadvisor.com/pblog/mortgage/mortgage-crisis-update/ If you are considering refinancing your mortgage with an interest only mortgage there are several things you need to know to minimize your risk and avoid paying too much. When used correctly interest only mortgages can give you a lower monthly payment; however, with any Adjustable Rate Mortgage there ... http://www.refiadvisor.com/pblog/mortgage/interest-only-refinance/ If you are in the process of taking out a new mortgage to purchase your home or refinance your existing mortgage, the fees you pay can make the difference between getting a great mortgage loan and paying too much. The fees on your Good Faith Estimate are often cryptic ... http://www.refiadvisor.com/pblog/mortgage-broker/loan-processing-fees/ I have been answering a number of questions regarding President Bush’s expansion of the FHA loan program with FHA Secure. I’ve decided to consolidate these questions into an FHA Frequently Asked Questions (FAQ) that will be updated frequently as the program develops. Who is FHASecure Intended to Help? There are ... http://www.refiadvisor.com/pblog/announcements/fha-secure/ Mortgage interest rates are a source of confusion for many homeowners. You’ll see rate quotes published on the Internet and advertised on television, but how do you know if those rates apply to you? There are a number of factors that influence the mortgage rate you will qualify ... http://www.refiadvisor.com/pblog/interest-rates/mortgage-rates-for-dummies/ If you’re concerned about your mortgage payment amount when the lender resets your Adjustable Rate Mortgage, there are several ways to protect yourself from payment shock. What is payment shock? Imagine waking up one day to a statement from your mortgage lender showing that your payment amount has gone ... http://www.refiadvisor.com/pblog/mortgage/adjustable-rate-mortgage-payment-shockadjustable-rate-mortgage-payment-shock/ If you are in the market for a new mortgage either to purchase your home or refinance an existing loan, you might wonder if a wholesale lender could save you money. Most homeowners in the United States do not understand how the mortgage markets work and are unable to ... http://www.refiadvisor.com/pblog/mortgage-tutorial/wholesale-mortgage-lenders/ Very few homeowners understand how mortgage brokers are compensated for their work. As a result, nearly everyone overpays in one form or another…mortgage brokers are very similar to used car salesman. Pressure sales tactics and improper disclosure of fees and markup are common tactics employed by mortgage brokers…so ... http://www.refiadvisor.com/pblog/mortgage-tutorial/mortgage-broker-compensation/ Until recently FHA mortgage loans have been slipping into obscurity. Congress has even been talking about doing away with the FHA program; however, the recent meltdown of the sub-prime (bad credit) mortgage industry has brought FHA insured mortgage loans back into the spotlight. President Bush has proposed expanding the ... http://www.refiadvisor.com/pblog/mortgage/fha-secure-mortgage-refinancing/ If you are in the market for a new mortgage loan, doing your homework before applying can literally save you thousands of dollars and many headaches. The mortgage industry has earned a reputation for sleazy sales tactics rivaling the worst used car salesman; most mortgage brokers today only care ... http://www.refiadvisor.com/pblog/mortgage-tutorial/mortgage-refinancing-tips-2/ Interest-only mortgage loans are a source of confusion for many homeowners. If you need the lowest possible payment while minimizing your risk of payment shock, an interest-only mortgage could be your answer. Here are the basics you need to understand about interest-only Adjustable Rate Mortgages (ARM) to make ... http://www.refiadvisor.com/pblog/mortgage/explain-interest-only-loans/ Mortgage loan processing is a confusing aspect of refinancing for many homeowners. Many mortgage brokers charge a fee as high as $500 or more; however, isn’t this just a junk fee? Many mortgages brokers justify their fee by saying they use a “professional loan processor” to process their ... http://www.refiadvisor.com/pblog/mortgage-broker/mortgage-junk-fee/ Your Good Faith Estimate is a disclosure document that gives you an estimate of various fees and costs associated with your mortgage. It is important to understand that the Good Faith Estimate is simply an estimate and does not have to accurately represent your total costs and fees when ... http://www.refiadvisor.com/pblog/mortgage-tutorial/good-faith-estimate/ Yield Spread Premium or YSP is the best kept and most scandalous mortgage secret you’ll encounter as a homeowner. YSP is the premium that your lender pays to the mortgage broker for selling you a higher than necessary mortgage interest rate. The more you overpay when refinancing your ... http://www.refiadvisor.com/pblog/mortgage/mortgage-secrets-yield-spread-premium/ If you’re falling behind on your mortgage payments and are concerned about losing your home, your first step in avoiding foreclosure is to learn how the process works. State laws regarding foreclosure vary widely; however, the rules in “Deed of Trust” States give your lender two options when foreclosing ... http://www.refiadvisor.com/pblog/mortgage/understanding-foreclosure/ The mortgage industry is complicated and constantly changing. In order to get the best deal possible for your home it is important to understand how the market works and how lenders and loan originators make their money. In doing this you will be able to make educated decisions ... http://www.refiadvisor.com/pblog/mortgage/mortgage-refinancing-secrets/