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Mortgage Refinancing Help
: Business: Financial Services: Mortgages: Regional: United States
: Pennsylvania (14)
 If you are refinancing from one ARM to another, check the initial rate and the fully-indexed rate. Also ask about the rate adjustments you might face over the term of the loan.
 See also:
 Federated Mortgage Corp »
Offers nationwide residential lending services. Features rates, programs, calculators. Based in Pittsburgh, PA.
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 Pennsylvania Preferred Mortgage Company »
Pittsburgh-basd lender offering a range of loan options. Presents calculators, rates, list of products and services, and online application.
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 Home Source Mortgage »
Provider of residential financing. Includes programs, articles, FAQs and details on the loan process. Licensed in six states with headquarters in Blue Bell, PA.
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 Mortgage Discounters »
Provides residential and commercial services from offices in Pennsylvania, New Jersey, and Florida.
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 Professional Mortgage Consultants »
An independent broker providing advice and information about the home buying process and special first-time homebuyer financing options. Offices in West Chester and King of Prussia.
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 Bankers First Mortgage Inc. »
Offering lending for new purchases, new construction and refinancing. Features products, message from the president, client testimonials.
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 Priority Mortgage Group »
Offering loans for new purchase, home equity, debt consolidation, and investment property. Offices in Butler, Altoona, Williamsport, and State College.
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 First Capital Mortgage Group, Inc. »
Pittsburgh-based lender. Includes details on the programs and the loan process plus common mistakes and homebuying tips.
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 Lafayette Lending Group, Inc. »
Brokerage offers a variety of loan packages. Features FAQs and calculators. Located in Lafayette Hill, PA.
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 Money Warehouse Inc. »
Provides financing for home purchases, commercial property and refinancing. Features company overview, calculators, specials.
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 Century Lending Services, Inc. »
Pittsburgh-based lender provides a variety of finance packages. Includes services, company overview, rate calculator.
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 Federated Lending Corporation »
Provides residential financing. Features programs, FAQs, calculators, details on the loan process. Corporate headquarters in Yardley.
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 Family Mortgage Company »
Offers residential, commercial and investment property loans. Includes products, company profile, rates. Located in Mill Hall.
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 Allegiance Mortgage Services »
A certified broker located in Pottstown. Includes programs, tips, online application, client testimonials.
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 The length of time that you expect to keep the mortgage helps you determine whether it is worthwhile to pay points up front to reduce your interest rate. Unlike points paid on your original mortgage, points paid to refinance may not be fully deductible on your income taxes in the year they are paid.
Mortgage can last a lifetime and that extra 1% can add up to literally thousands of dollars over the years. I have friends that are in their 70s and still paying off their home loans. It'll pay off in the long run to make sure you find the best deal possible. Don't let poor credit stop you from refinancing your home.
If you know that you will be moving in 3 to 5 years, you might want to consider refinancing to a 3 or 5 year ARM (adjustable rate mortgage). These loans typically have a much lower rate that a traditional fixed rate loan such as a 30 year fixed, but they do have a fixed rate for the first 3 or 5 years of the loan. This will enable you to benefit from the lower rate, but you won't ever have to worry about the risk of a rate adjustment because you will be selling the home before the fixed-rate period ends.
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.
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