Mortgage Refinansing Help

Mortgage Refinancing Help: Washington, DC

“Carefully review the estimated closing costs. If you decide to lock in the rate, the lender will send you a "good faith estimate" of your closing costs within three days. Go over the numbers carefully, and compare them to the ones that appear on the final settlement statement (the HUD-1) from your previous mortgage. ”

Mortgage Refinancing Help : Business: Financial Services: Banking Services: Credit Unions: Regional: United States : Washington, DC (10)

Pull your credit report from the bureaus and review it for any negative items (late pays, collections etc) and inaccurate detail. Try to dispute negative items and remove them from the report. If required pay off any unpaid debt. Otherwise, you won't get a low rate and may not even qualify. Of course there are lenders in the subprime market who may offer you a bad credit refinance loan, but it's better to avoid them as they'll possible charge higher rates and fees.

Mortgage Refinancing Help: Washington, DC ()

See also:

HEW Federal Credit Union »
Serving employees of the Department of Health and Human Services, Department of Education, Food and Drug Administration, United States Public Health Service, Department of Health and Human Services and select employee groups.

Department Of Commerce Federal Credit Union »
Membership is open to select employee groups.

United States Senate Federal Credit Union »
Serving Senators, staff and families.

Transportation Federal Credit Union »
Membership open to DOT, FAA, and other select employer groups.

Justice Federal Credit Union »
Membership is open to employees of the US Department of Justice.

State Department Federal Credit Union »
Membership is open to employees of the Department of State and select employee groups.

Department of the Interior Federal Credit Union »
Branches in Washington, DC and Reston, Virginia. Serving employees of the Department of the Interior and select related groups.

Bank-Fund Staff Federal Credit Union »
Serving employees of the World Bank Group and select employee groups.

HUD Federal Credit Union »
Serving employees of the Department of Housing and Urban Development, and select employee groups.

DC Teachers Federal Credit Union »
Serving public schools and colleges in the District of Columbia.

If you are making payments on a long term loan, say, 30 year mortgage for the past 10 to 20 years, then refinancing to another 30 year loan will not be a good option as it may increase your overall payment.

Close inactive credit card accounts to improve your credit score, making you eligible for lower interest rate loans. You will need to notify the credit card companies in writing that you wish the accounts closed on your request. Next, check your credit report after 30 days to be sure closed accounts include the comment "Closed at Customer's Request." You want future lenders to know it was your request and not bad credit that closed your accounts. Also, take the time to check for any mistakes in your credit report that could negatively impact your credit score.

Many companies in this industry will do what ever they can to get away with charging you as much as they possibly can. Some of the ways they do this is not disclosing all the third party fees involved in a loan such as title insurance, appraisals, pre-paid tax and insurance escrows etc. It is important that you ask the loan officer you're speaking with about third party fees. If you don't they may not tell you and give you a good faith estimate that sounds fair, but at closing you'll find out that you have to pay a couple of thousand dollars more in fees you were unaware of. A good loan officer at a reputable company should have no problem disclosing all fees that pertain to your loan and should also make sure you understand what the fees are for.