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Mortgage Refinancing Help: Real Estate
“Be specific about the loan you want. The more precise you are, the easier it will be for a loan officer or mortgage broker to find the best rate. For example, do you want a 15-year or 30-year mortgage? Do you need a "jumbo" mortgage (more than $333,700)? Are you willing to pay points to reduce the interest rate? The answers to these questions will depend on several factors, including when you plan to sell the house and how soon you want to retire your debt. Only you know the answers, but the sooner you know them, the better.
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Mortgage Refinancing Help
: Regional: North America: United States: North Carolina: Metro Areas: Charlotte-Gastonia-Rock Hill: Business and Economy
: Real Estate (11)
 There are literally thousands of mortgage companies all over the country. It is important that you choose a reputable one. Most reputable companies will be part of the Better Business Bureau or other community watchdog group. Good companies will also have websites that rank well on search engines such as Yahoo and Google.
 See also:
 Inspector Paul »
Offers inspections for residential and commercial properties. Features services, rates, owner profile, sample report, testimonials.
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 Piedmont Regional Association of REALTORS »
Serving the counties of York and Lancaster, South Carolina; includes directory of members, schedule of classes, and MLS listings.
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 Charlotte Region Commercial Board of Realtors »
Trade association dedicated to the commercial real estate industry in the greater Charlotte area. Includes member directory, news, and events.
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 Piedmont Association of Home Inspectors »
Features the organization's code of ethics and standards of practice plus FAQs and links to consumer information.
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 Charlotte Regional Realtor Association »
All homes listed for sale in the Charlotte region. Newcomer, relocation information, utilities and schools, local attractions and recreation, consumer tips, home buying/selling hints, and find a home or a Realtor.
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 RE/MAX Executive Realty »
Agency specializing in new and resale single family homes. Features company vision and statistics, property search and list of agents. Offices in Charlotte and Fort Mill.
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 Castle Check Home Inspections »
Residential and commercial property inspection service. Features services, e-reports, pricing, online ordering, downloadable samples.
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 Charlotte-Mecklenburg Housing Partnership »
Affordable housing opportunities to citizens in the Mecklenburg County area.
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 Lake Norman Realty, Inc. »
Information on new construction, rentals and commercial properties. Locations in Mooresville and Cornelius.
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 Assured Home Inspections, Inc. / Inspector Ben »
Home inspection service for the greater Charlotte area. Offers description of services, pricing and scheduling.
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 Charlotte Realty Services »
Provides photography and on-line virtual tours for agents. Features company overview, services, samples of work.
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 Homeowners who want to refinance but can't because they owe more on their home than their home is worth (also known as "upside down") should focus their time and energy on making more money. Adding a part-time job or starting a side business will bring extra income into the household, income that can be used to make extra payments a mortgage.
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.
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.
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.
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