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Mortgage Refinancing Help: Associations
“Both new homebuyers and refinancers can get free access to the credit reports that lenders use by visiting AnnualCreditReport.com, a website created via Congressional mandate. A free report from each of the three consumer reporting agencies -- TransUnion, Experian and Equifax -- is available at no cost every 12 months. Check for errors; if mistakes are found, don't hesitate to dispute any and all inaccurate and derogatory items.
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Mortgage Refinancing Help
: Business: Real Estate
: Associations (20)
 When evaluating different lender offers, in the mortgage loan pre-approval process, pay closest attention to the interest rates they are offering & the closing costs. These are the two biggest factors that will help you figure out which lender is right for you. If one of these two factors is too high, it could offset the benefit of refinancing for you.
 See also:
 National Council of Exchangors »
National non-profit association of real estate agents specializing in 1031 tax deferred exchanges.
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 National Association of Real Estate Brokers »
Trade organization focusing on minority groups in the realty profession. Features mission, searchable member database, events, affiliates.
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 European Real Estate Association »
Trade association of European real estate companies.
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 Council of Residential Specialists »
Association of Realtors providing training for the Certified Residential Specialist (CRS) designation.
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 NSW Federation of Housing Associations »
Association of community housing providers, management workers, volunteers and tenants in New South Wales, Australia.
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 Real Estate Institute of Canada »
Association for promoting high standards of practice through education, certification and accreditation.
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 American Escrow Association »
National Trade Association of settlement and escrow industry professionals.
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 International Union of Property Owners »
Defends property rights worldwide, with members from more than 20 European countries, established in 1923. Includes bylaws, details on initiatives, related links, and history of the group.
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 National Association of Hispanic Real Estate Professionals »
Non-profit association of Hispanic-American real estate professionals.
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 National Association of Real Estate Investment Trusts »
A national trade association of real estate investment trusts.
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 Realtors Land Institute (RLI) »
Organization of professionals specializing in land brokerage.
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 National Multi Housing Council »
A trade association representing apartment owners, managers, developers, lenders, and service providers.
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 National Association of Housing Redevelopment Officials »
Association of professionals in affordable housing and community redevelopment.
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 International Association of Assessing Officers »
Association of professionals in property assessment and taxation.
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 Institute for Responsible Housing Preservation »
Association of HUD section 221(D)(3) and Section 236 owners and managers.
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 National Landlords Association »
Represents the interest of private residential landlords. Includes member benefits, newsletters, and factsheets. UK.
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 National Council of Real Estate Investment Fiduciaries »
Association of institutional real estate professionals.
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 National Apartment Association »
A national federation of state and local apartment associations.
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 International Right of Way Association »
Association of individuals in various professions engaged in right of way activities.
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 Asian Real Estate Association of America »
National professional trade organization; find out about membership and events.
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 When refinancing a mortgage, as many as 30% of homeowner's cash out part or all of their home's equity. By investing in home improvements or paying off credit cards, this can be a smart. But, if you are borrowing more than 80% of your home's value, you will be hit with private mortgage insurance, costing you hundreds a year.
If there are only a few years left on your current loan, it's no use refinancing with a long term loan. You may need extra cash but with a long term loan, you'll end up paying more for the entire loan term.
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.
Be Prepared. You'll probably be asked for more information and documentation after you submit your application, but before your loan is approved be prepared to document your income and assets. Answer any questions and fax documentation to your loan representative as soon as possible.
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