Mortgage Refinansing Help

Mortgage Refinancing Help: Financial Services

“If you are able to get a lower rate that what you currently have, you can save tens of thousands of dollars over the life of your loan. Also, most lenders don't charge as many fees to refinance a mortgage and depending on how much equity you have in your home you may be able to roll the closing costs into your new loan, still have a lower balance than your original loan, a lower rate, and a lower payment. ”

Mortgage Refinancing Help : Regional: North America: United States: South Dakota: Localities: S: Sioux Falls: Business and Economy : Financial Services (17)

Ask the lender or broker for a comparison of the up-front costs, principal, rate, and payments with and without this rate trade-off.

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Mortgage Refinancing Help: Financial Services ()

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Regional: North America: United States: South Dakota: Business and Economy: Financial Services (0)

Ness Tax & Bookkeeping »
Providing income tax preparation and bookkeeping services.

Sioux Empire Federal Credit Union »
Offering member-driven not-for-profit financial services.

Alternative Strategies Group »
A completely different experience in financial advising.

Nelson and Nelson CPAs »
CPA firm profile of full-service line of accounting services, staff contacts, and amortization schedule for client assistance.

Sioux Falls Bell Federal Credit Union »
Providing a variety of quality financial services to our members in a friendly and professional environment.

Brandt Solomon & Anderson, LLP »
Offers tax, accounting, and business consulting services. Provides description of services, staff profiles, calculators, and contact information.

Connie Buskohl CPA »
Clergy tax preparation and consultation, QuickBooks training, and accounting services.

Fair Tax Inc. »
We prepare tax returns for individuals and businesses as well as provide a broad range of financial services for small- and medium-sized businesses.

Wells Fargo Home Mortgage - Becky Taylor »
Becky Taylor - Mortgage lender covering the local area. Offers pre-qualification and pre-approval, as well as closing.

You can also save money on your mortgage refinancing by paying "points." This is a fee that effectively lowers the interest rate of your loan. If you plan on staying in your home for a long time, this long-term strategy can be an excellent way to save thousands of dollars.

These days most people request a Good Faith Estimate (GFE), but have no clue what to look for on the GFE. Make sure you request a GFE that has ALL fees estimated and disclosed. This includes: origination points, processing, lender, appraisal, title, escrow... ALL FEES... especially the Yield Spread Premium or YSP.

Resist "no cost" refinancing. No cost doesn't mean free. On the contrary: The closing costs are usually bundled into the new mortgage, which means you pay interest on them. The fees associated with a 30-year mortgage could cost you more than double what they would have had you simply written a check for them at closing. Or, if the costs aren't bundled in, you'll be charged a slightly higher interest rate. Either way, the lender wins.

Don't rely on published rates. "No one's going to advertise their worst product," says Keith T. Gumbinger of HSH Associates, a Butler, NJ, firm that tracks mortgage rates. "They advertise the best possible rate, which probably gets offered to only the top 10 percent of applicants."