If you’re considering mortgage refinancing you might be asking which company will give the best refinance rates. Comparing rate quotes from a variety of lenders can be difficult because there are standards for lenders to follow when quoting fees. One lender may quote an APR calculated entirely differently from another making apples-to-apples comparisons nearly impossible. Here’s an article from the blog TheTruthAboutMortgage.com that sheds a little light on the dilemma of finding the best lender.
I get asked this question a lot, considering most people looking for a home loan want to go with the “best company” out there. Unfortunately, it’s not quite that simple…because any given Monday, Tuesday, or Wednesday, one mortgage company might have the edge over another.
A more sensible approach to rate shopping is to find the right person to arrange your mortgage refi. Who is the right person? There are several reasons for choosing a mortgage broker over your banker. For one, recent changes by the Federal Trade Commission finally protect homeowners from broker abuse when it comes to their compensation.
Find the right broker to arrange your mortgage refinancing and you’ll not only get today’s best refinance rates but will avoid paying lender junk fees in the process. One of the biggest mortgage secrets around is that closing costs vary from one lender to the next and are completely negotiable! Find the right broker to arrange you refi and you’ll not only get access to wholesale mortgage rates and your broker can negotiate fees for you. You don’t have to be a personal finance guru to pull this off; you just have to have the right person in your corner.
You can learn more about getting the best refinance rates for your next home loan without paying lender junk fees by checking out my free Underground Mortgage Refinancing Videos.