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Important Credit Score Information Before Your Mortgage Refinance

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If you’re thinking about applying for a mortgage refinance loan the first thing you should check is your credit score. While it’s true that mortgage refinance rates are near historical lows, the real interest rate you qualify depends on a number of factors including your credit score. There are steps you can take before applying for a mortgage refinance loan to make sure that mistakes in your credit history don’t prevent you from getting today’s lowest refinance rates. Here’s an article from MortgageLoan.com about the importance of keeping an eye on your credit before your mortgage refinance:

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Your credit score is important. Consumers pay a lot of money each year to obtain their credit scores from credit reporting agencies. But the score you receive may not be the same one a lender uses when determining whether to grant you a loan or not.

Read More:

http://www.mortgageloan.com/credit-scores-can-be-misleading-8800

Once you’ve decided to go forward with your mortgage refinance and are certain there are no mistakes in your credit reports you’ll want to pay close attention to the fees lenders are charging you for your mortgage refinance. One of the most common mortgage mistakes homeowners make on their mortgage refinance is not negotiating closing costs. Mortgage fees vary widely from one lender to the next and can be negotiated; however, most homeowners overpay at closing because they skip this crucial step.

You can learn more about paying less for your mortgage refinance by avoiding unnecessary lender fees and markup by checking out my free Underground Mortgage Videos.

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