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Refinance - NOW! is the time to lower your monthly debt Sun 12/16/07 09:57:01 pm by Dan Freeman
Why are you waiting to refinance your manufactured
home? Now is a great time to cut a deal and lower your monthly debt. Interest is back down, at historically low rates. Home sales are in a slump, which has made lenders hungry for new contracts. Take advantage of this unique time. If you have an adjustable mortgage or a high payment fixed rate now is the time to get moving before rates start to climb up or the housing market takes off again.
Refinancing
your home loan is never a simple matter, but it is up to you to do those things which
can insure that you get the best refinance deal possible. Here are some
ideas that will help you work smoothly through the process:
1: Get the Best
Refinance Interest Rate -Do Your Homework!
Even if you choose to use
a mortgage broker, you will find that interest rates constantly change,
literally hour by hour. By taking the time to educate yourself about mortgage
rates you can help yourself to better gage when the rate is at its best it is
likely going to be.
2: Get the Best Refinance Interest Rate
Possible by using a service that has several finance companies competing for your business
Online mortgage services that are professionals in their
trade are skilled in helping you to find the
best refinance program possible. These services have access to
thousands of lender programs for you to choose from. They can suggest
lenders for just about every scenario possible. If you have bad credit, if you
are self-employed, etc., no matter what your situation is a
loan finder services can help find you the absolute best deal possible.
3: Get the Best Refinance Interest Rate by Buying Down
Assume that the best mortgage rate available today is 6%. By buying down your
rate you can lower your interest rates over the length of your loan. This is
also called "paying points." If you were to buy down the 6% rate, you might
easily end up with a 5.5% mortgage. The cost to you would be a few thousand
dollars at closing, This would save you tens of thousands of dollars
over the life of your mortgage term. Paying points always makes sense if you
have the available capital and do not need to use it in other areas.
4: Get the Best Refinance Interest Rate by Negotiating
Most people don't know that mortgage rates and even fees are always negotiable! By playing two or more
lenders against each other, you can come up with an
absolute rock-bottom interest rate. Successful negotiation requires that you are
always prepared to walk away from the deal, that you say "no" until you get what
you are looking for, and that you are both patient and well educated.
By
educating yourself, using loan finder service, paying points, and using simple
negotiation skills, you can get the best refinance rate available. Whether you have excellent credit, or not so good credit, you
can find an excellent rate and refinance your current manufactured housing loan.
By doing your homework you can save yourself thousands of dollars over the life
of your loan.
Getting FREE Mortgage Quotes
from several lenders is simple! Answer a few basic
questions and click the "Submit" button. You'll be matched with the lenders and brokers who
could meet your exact financing needs. All Loan Types Available: Purchase,
Refinance, Home Equity, Home Improvement, Debt Consolidation, Cash-out, FHA/VA,
and Even Land/Home Construction Loans.
What's more, the
Manufactured Housing Loan
Finder is easy to use, and it
costs nothing to participate. Just take a few minutes now to complete the short
questionnaire on this page. Then, based on what you tell us, our lenders
can find a loan that matches your needs. Within just 24 hours, your request for
loan information can be answered by several participating manufactured housing
finance offices.
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