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Mortgage Refinancing Help
: Business: Financial Services: Banking Services: Credit Unions: Regional: United States
: Montana (10)
 Lenders like pristine credit reports. If you have a bunch of open credit card accounts that you never use (and who doesn't?), consider closing them. It will boost your credit score and make you a much more attractive borrower to a lender. Then, a month after you've closed your accounts, go over your credit report with a fine-tooth comb. It should read that the accounts were closed at your request. (You don't want lenders to think someone cut you off and that you're a bad credit risk.)
 See also:
 Livingston Federal Credit Union »
Serving employees of Montana Rail Link and Burlington Northern who work in or are supervised from Livingston; county, school and federal employees in Park County, Montana, and numerous employee groups.
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 Avanta Federal Credit Union »
Serves members in Yellowstone, Carbon, Stillwater, Sweet Grass, Golden Valley and Musselshell counties. (Formerly Laurel Federal Credit Union)
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 Great Falls Teachers Federal Credit Union »
Serving employees of schools in Cascade, Pondera, Teton, Choteau, and Judith Basin Counties.
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 Montana Federal Credit Union »
Serving participating patrons of numerous cooperatives, and employees of several small employee groups.
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 Billings Federal Credit Union »
Serving people who live or work in Yellowstone, Big Horn, or Carbon Counties, Montana.
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 BearPaw Credit Union »
Serves employees of Burlington Northern Santa Fe railroad and residents of Hill, Blaine, Liberty, Chouteau, Phillips, Pondera or Toole counties; based in Havre with branches in Chinook, Shelby, Chester, and Sunburst.
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 Missoula Federal Credit Union »
Serving those who live or work in Lake, Missoula, and Ravalli counties.
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 Lincoln County Credit Union »
Membership is open to people who live and work in Lincoln County, Montana.
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 Gateway Community Federal Credit Union »
Serving persons living in Missoula; employees of Hoerner-WaldorfCorporation of Montana who work in Missoula; and numerous small employee groups.
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 State Capitol Employees Credit Union »
Serving employees of the State of Montana in numerous counties; several small employee groups in Bozeman; members of the union Local D239.
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 The majority of your mortgage payment goes toward paying interest. To save an astounding amount of money over the long term, choose a mortgage loan with a lower rate and a shorter payback term. A 15-year mortgage may be just what the financial planner ordered. This type of loan carries a larger monthly payment; but if your budget can withstand the jolt, you can save big bucks over the long haul.
Before you refinance a loan, make sure that you carefully analyze any fees that your lender is including on the loan. The Department of Housing and Urban Development can provide you with a list of standard fees. Use it to make sure that your lender isn't tacking on anything extravagant. And by all means, compare their fees with other lenders in the market.
Short-term mortgages offer lower interest rates than long-term mortgages. You save money by the lower interest rates and shorter payment period. The trade off is a larger monthly payment, but this option can save you thousands.
Closing costs can be expensive. If you plan on refinancing your home to save money, be sure to take into consideration how much the closing costs on the new loan will cost you.
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