According to a recent survey many homeowners in the United States do not understand their home mortgage and are stumped by industry jargon. Six out of ten Americans surveyed had no idea what APR stands for. (Annual Percentage Rate) Furthermore, almost half surveyed did not know the interest rate on their mortgage loan.
To educate homeowners in the United States a national mortgage company has launched a new website RefiAdvisor.com. According to the website, homeowners looking to refinance a mortgage need to arm themselves with information.
This website offers homeowners tips and information on shopping for the best mortgage deal. There is information on the different loan options and calculators to help determine how much mortgage a homeowner can afford.
Intense competition among mortgage lenders is a great thing for homeowners; however people need to do their homework in order to take advantage of this competion and this is where the website can help.