Mortgage Refinance
Tips For Getting
Approved
Getting a low refinance rate for your mortgage
can be very complicated.
However, with a few tips you will be able
to get the loan you need
and get the lowest monthly payment possible.
There are many reasons that people refinance their mortgage.
Some of the main reasons why:
You have old loans that have high interest rates,
You have debt that is catching up to you,
You want to pay for college or to invest in another
property.
Whatever the reason there is a solution that is available for you.
Here is how you can do it.
The first thing that you need to do is find out what your
mortgage refinance options
are best for your needs.
One of the most popular choices is a fixed rate mortgage.
This type of mortgage can lower your monthly payment since rates are so low.
There is not much difference in rate between a fifteen year
or five year or ten year loan.
The fifteen year mortgage has the lowest rate but highest payment
Perhaps you cannot qualify for a government backed type loan, we
have solutions to help self employed borrowers or those who have assets but
not W-2 income.
If you plan on applying for a mortgage refinance,
then you should know how to get approved.
If you have a decent credit score, a FICO above 690,
you should have no problem getting approved for a mortgage.
The mortgage industry is very competitive,
and you will be able to find the perfect mortgage.
Another thing you can do to get a lower interest rate
is to pay points off your mortgage.
This reduces the amount of interest you pay on your mortgage,
which can save you thousands of dollars over the life of your mortgage.
Points are not a great choice if you think you will sell in the next four years.
We will advise you on the best mortgage.
As you can see, there are many ways to get approved for a mortgage refinance
if you are ready to take your financial situation into your own hands.
You should be prepared with all your financial information before you start
filling out applications, it is not necessary to have perfect credit
in order to get approved for a mortgage.
