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Mortgage Refinancing Help: Binding and Finishing
“It's better to follow the 2% Rule which suggests that you can enjoy the benefits of a home refinance if your mortgage refinance rate is 2% lower than that on your current loan. The interest savings will help you recoup the costs you've paid for the new loan provided you stay in the property for a certain period of time (break-even period). However, there are no-cost as well as low-cost refinance loans wherein the costs are included into the loan. But you can expect comparatively higher rates on such loans. Moreover, these loans are limited when the market is in a credit crunch.
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Mortgage Refinancing Help
: Business: Publishing and Printing
: Binding and Finishing (226)
 If you plan on moving out of your existing home within the next few years, it may not be beneficial for you to refinance. Make sure you let your mortgage specialist know your future plans.
 See also:
 Your Bindery »
Offers collating, saddle stitched booklets, perfect binding, folding, spine tape binding, and shrink wrapping.
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 Dynamic Graphic Finishing, Inc. »
Offers foil stamping, embossing, diecutting, UV coating, automatic folding and gluing, and round cornering.
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 Miniature Folding Inc. »
Print finishers and hand assembly specializing in miniature-folding for the pharmaceutical and cosmetic industry.
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 Pharma Finishing Limited »
Specializes in miniature print finishing, perfect binding, stitching, and folding. UK.
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 Ape Image Consultants Ltd »
Wire binding, encapsulation, lamination, plastic comb binding, print finishing.
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 Riverside Group, The »
Bookbinding and finishing services.
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 Avon Graphics »
Offers embellishing services for printing and packaging industries, including stamping and embossing. Australia.
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 Eckhart and Company, Inc. »
Full service binding and finishing.
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 Corporate Image »
A printer and manufacturer of presentation materials.
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 Unibind »
Specializes in designing, manufacturing and distributing binding and presentation products.
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 Sterling Finishing, Inc. »
Specializes in stamping, embossing, die cutting, coil and wire-o binding as well as other finishing operations.
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 Be Inquisitive. It's your responsibility to make sure that you understand the terms of your loan. Ask questions and listen carefully to the answers. Don't sign your loan documents until you are satisfied with the information and confident that you have made the right decision.
Make sure that your original mortgage does not have a pre-payment penalty or early payoff penalty of any kind. Sometimes people will get into their mortgage with the mortgage having a pre-payment penalty and they will not even know about it. Pre-payment penalties usually range from 6 months to 3 years with a penalty for an early payoff. The penalty is usually about the amount of 6 months worth of your mortgage loan interest, but this varies. You would have to be able to have some significant payment and interest savings on your refinance loan to justify refinancing a mortgage loan with a pre-payment penalty.
If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.
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.
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