There’s no one-size-fits-all mortgage out there. But don’t be overly enticed or intimidated by the number of loan options available for home owners looking to refinance a mortgage.
Have the patience to search the options thoroughly, or find someone like Yolanda Bowes to do it for you. Bose is the president of Rapid Mortgage in Belen and vice president of the New Mexico Association of Mortgages. Rapid Mortgage links home buyers to one of more than 20 local and national lending institutions after searching the available options.
She said the most important thing mortgage shoppers should know when refinancing a mortgage is that their case requires special attention. “Everyone has different credit scores. Everyone has different needs and is looking at different houses,” Bose said. “There is not a standard deal.”