Mortgage Refinansing Help

Mortgage Refinancing Help: Georgia

“Refinancing may not be that useful if you have already used up 90% or more of your home value in taking out a mortgage or any home equity loan. You won't be able to get the best rates available in the market as when you refinance a 90% LTV loan, you will probably require a loan of that value or higher. This will be quite closer to being a 100% financing option and hence mortgage refinance rates will be comparatively higher. Moreover, 100% loans are hardly available in times of mortgage market crisis. ”

Mortgage Refinancing Help : Business: Financial Services: Mortgages: Regional: United States : Georgia (21)

Get your interest rate and closing costs in writing as soon as you decide on a lender to work with. Get your lender to give you a commitment in advance of all of the costs that will be involved with your loan. Find out if the refinance loan you are getting has a pre-payment penalty as well. Sometimes lenders will leave out important information like this, if they think it might scare you away from refinancing with them.

See also:

Primacy Mortgage, Inc. »
Home lending specialists. Features loan officer profiles, programs, news, articles. Based in Duluth.

Informed Mortgage Inc. »
Provides refinancing, home purchase, construction, and VA home loans. Includes online application, mortgage calculators and daily rates. Located in Woodstock.

Southeast Mortgage of Georgia, Inc. »
Direct lender providing fixed-rate, adjustable, balloon and VA loans. Features products, company overview, client testimonials. Offices across the Atlanta metro area.

Georgia Lending Partners »
Mortgage broker specializing in FHA loans. Also providing Conventional and VA loans. Good communication is our hallmark, and your satisfaction is guaranteed.

Bank of North Georgia Mortgage »
Provides residential mortgage loans and refinancing in Atlanta.

Atlanta Home Loans -- FHA Specialists »
Lender with a focus on FHA, FHA 203K and Fannie Mae Homestyle Renovation loans

American Mutual Mortgage »
Provides residential and commercial financing. Features current rates, program descriptions. Located in Atlanta.

Family Mortgage of Georgia »
Provider of residential financing. Includes buyer and seller tools, loan programs, company profile. Located in Marietta.

Mortgage Atlanta »
Mortgage Atlanta is your Georgia source for home loans. Offering competitive rates, and low closing costs.

Mortgage Bankers Association of Georgia »
Trade organization composed of lenders, brokers and affiliated industry associates. Features board of governors, member directory, consumer information, legislative bulletins, calendar.

AmStar Mortgage Network »
Provides refinancing and new purchase financing. Features loan types, details on prequalification, calculator. Located in Marietta.

Peachtree Mortgage Services, Inc. »
A full-service mortgage broker serving the entire state. Georgia Residential Mortgage Licensee #7359.

First Choice Lending, Inc. »
Atlanta-based lender offers custom solutions for residential financing situations. Includes rates, amortization schedule, career opportunities.

Home Town Mortgage »
Mortgage brokers in the Alpharetta, Buckhead, Crabapple, Dunwoody, Johns Creek, Milton, Roswell, and Sandy Springs areas.

First Carolina Mortgage, Inc. »
Savannah based company specializing in conforming and investment properties.

Millennium Mortgage, Inc. »
Offers Metro Atlanta complete mortgage services. Special programs available for community workers including teachers, police, firefighters and health care workers.

Associated Mortgage »
Brokerage matches buyers with lenders. Features products, information for first time homebuyers, FAQs. Located in Atlanta.

Wieland Financial Services, Inc. »
Provides residential lending in the southeast. Includes company overview, FAQs, details on types of loans offered. Corporate headquarters in Atlanta.

Academy Mortgage Corporation »
A direct mortgage lender providing mortgages for purchase or refinance. FHA, VA, USDA

Citizens Fidelity Mortgage »
Offers a variety of mortgage products. Features company history, office locations, loan programs, express application. Corporate headquarters in Atlanta.

Georgia Mortgage, Inc. »
A full-service lender offering conforming and non conforming loans. Features services and rates. Based in Roswell.

Refinancing a mortgage means the owners are paying off their existing mortgage and replacing that mortgage with a new loan. Generally, the costs associated with mortgage refinancing are rolled into the loan, meaning they are added to the existing balance, increasing the loan amount.

Ask for the reissue rate on your title work. If you've taken a mortgage within the past two years, or are using the same lender, you might be granted this option, which can save you as much as 70 percent on your title work. An editor at this magazine didn't know about this potential savings when he refinanced his mortgage; fortunately his lawyer did. The savings more than covered the attorney's fees. However, if it's been several years since you took out a home loan, or if you're using a new lender, you'll likely have to pay for a new title.

If you do not plan on staying in the house very long, refinancing may not be in your best interests.

Refinancing is not the only way to decrease the term of your mortgage. By paying a little extra on principal each month, you will pay off the loan sooner and reduce the term of your loan. For example, adding $50 each month to your principal payment on the 30-year loan above reduces the term by 3 years and saves you more than $27,000 in interest costs.