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Got a Home Loan in Virginia?
Get Low Refinance Rates From Just 2.12%.

How to Refinance a Mortgage

Would you like to know how to refinance a mortgage without paying hidden markup or junk fees? Did you know that 97% of your friends and neighbors are overpaying for their home loans because of hidden markup and lender junk fees? Once you know how to refinance a mortgage taking advantage of the wholesale nature of interest rates, you can avoid unnecessary markup and fees. Here are my best tips on how to refinance a mortgage without paying one cent more than is necessary.

How to Refinance a Mortgage Online

The Internet is a great tool for researching home loan offers and learning how to refinance a mortgage loan; however, the problem with all the quotes you receive online is that they include retail markup intended to create an extra commission for someone. The mortgage fat cats know this extra commission I’m referring to as Yield Spread Premium. Don’t worry if you’ve never heard of this fee, most people haven’t AND according to the HUD Secretary in the United States it’s responsible for homeowners overpaying sixteen billion dollars this year alone.

Learn how to refinance a mortgage with wholesale interest rates and you’ll save as much as $1200 a year for the entire duration of your home loan! Doing this is easier than you think; you don’t have to be a personal finance guru or have a relative in the biz to pull this off, you just have to find the right person to refinance your home loan without all the nonsense brokers pull to pad their commissions at your cost.

Mortgage Refinancing with Wholesale Rates

How to refinance a mortgage without overpaying? The first thing you’ll want to do is avoid paying for Yield Spread Premium. What is this fee lender’s pay for marking up your home loan? Simply put, Mortgage Yield Spread Premium is a fee even the best refinance company pays for locking and closing your home loan with a higher than necessary interest rate. I say this fee is unnecessary because you’re already paying the person arranging your home loan a perfectly reasonable loan origination fee for the work they do on your home loan. Did you know that Yield Spread Premium effectively doubles, even triples the commission they get for a few hours work they put into your mortgage refinancing?

How to Get Wholesale Interest Rates

Want to know how to refinance a mortgage with a wholesale rate? You’ve come to the right place… I already mentioned that instead of comparing loan offers into the wee hours of the morning (which is what your neighbors did and look where that got them) if you want to get wholesale rates you’ll need to find the right person to arrange your next home loan. Who is this person? For reasons that I’ll discuss in a later refinancing article I can tell you that this person does not work for your bank. The ideal person for arranging your mortgage refinancing is a self-employed mortgage broker working in your area. These brokers don’t have the overhead that even the best mortgage refinance companies have and are much more likely to negotiate the kind of deal I’m describing here.

Now that your learning how to refinance a mortgage without hidden markup you can get stated by telling prospective brokers that you understand how Mortgage Yield Spread Premium works and will not accept any home loan that includes the markup. Offer to pay a reasonable free for loan origination (one percent is perfectly reasonable) and you’ll be will on your way to securing a wholesale interest rate.

You can learn how to refinance a mortgage without overpaying one cent in detail by checking out my Underground Mortgage Refinancing Videos.

Here’s a quick sample to help you find the right person to arrange your next home loan.

{ 1 comment… add one }
  • John Burnett March 13, 2012, 12:45 pm

    HELLLLLLLLLLLLLLP! Tell me WHO to call to get the best overall deal on a refi. Who do u reccomend? THANKS, JOHN

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