Welcome to InsuranceForums.info!   

Advertisments:


Sponsor Links

Affordable Pet Insurance
Travel Insurance Comparison


Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

All discussions relating to Business Insurance and Business Finance

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Buckly » Thu Sep 28, 2017 3:24 pm

I have been approached by a mortgage company saying my interest rate is way to high that she will help me get the interest rate lower.
I pay 7% right now.

I just got the forms sent over my computer to electronic sign.

I did all except the last one and here is how it reads.
I am never trusting with these things.

Annually %rate will be 4.153% Finance charge will be $75,058.42

Amount Financed will be $90,019.72

If all payments are made as scheduled you will pay a total of $165,078.14

We are older now and want a lower interest rate but we don't want to pay a arm and a leg.

It appears to have closing cost and mortgage insurance as well.

Please help as all the fine print is not something you even understand unless your in the business.

Thanks so very much.......
Buckly
 
Posts: 58
Joined: Sun Jan 19, 2014 2:54 pm

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Aldrich » Thu Sep 28, 2017 10:19 pm

Closing costs - that's where they will get you.

Go through reliable banks.

Not anyone that approached you - silly goose.

Compare at least 3 local banks and 1 credit union online.

You can also go to bankrate.com and click on mortgages then type in your zip code. http://www.bankrate.com/

And, what is your current bank offering for a re-fi?
Aldrich
 
Posts: 61
Joined: Fri Jan 03, 2014 11:28 am

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Bleecker » Fri Sep 29, 2017 11:21 am

If you want to refinance at a lower rate, then shop around.
Do NOT take the first offer which shows up and looks good.
While your refi interest rates will be generally very close, the charges for the brokerage fees vary wildly.
Bleecker
 
Posts: 48
Joined: Sun Mar 09, 2014 12:46 pm

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Clemento » Fri Sep 29, 2017 12:02 pm

Wow, 7% is very high.....you should definitely look into refinancing.

Somethings to know though in looking at your question:

1. What type of mortgage do you have now? How many years have you paid on your mortgage?

2. What type of mortgage was offered by the bank/lender at this interest rate and fees?

3. Do you plan on paying off the home or moving before the end of the payoff time-frame?

4. How much are your closing costs?

5. How much is the estimate for the PMI offered?

My other question to you, have you called your current lender to see what options you have for refinancing?? You can probably get a better deal with your current lender and less closing costs (i.e. probably wouldn't need an appraisal nor have to pay PMI).
Clemento
 
Posts: 51
Joined: Fri Jan 17, 2014 12:19 am

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Yisreal » Fri Sep 29, 2017 5:49 pm

What i will tell you is that this, relying on what you submitted on your contact information, ie ss quantity, cell number, this might be why your getting calls. There is a little trick in completing a loan utility the place you don't post the man or woman's mobile quantity initally, because the credit corporations can promote the telephone number, therefore the borrower getting many unsolicited mobile calls. The one conern i would have with a small regional lender is the science they have got, they might not be as secure as a boa or wells. There are various upsides although, the provider can have a more private consider, they more often than not do not have the processing backlogs the greater lenders do, and they will not be as hestiant to lend. What I mean is you might have mostly heard about the housing obstacle, a few of the smaller lenders were not exposed to this as they didn't promote their mortgages and serviced them.
Yisreal
 
Posts: 49
Joined: Thu Apr 10, 2014 5:36 pm

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Jon » Sun Oct 01, 2017 8:11 am

no, each can be different, so shop around
Jon
 
Posts: 67
Joined: Sun Jan 05, 2014 12:16 pm

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Gad » Mon Oct 02, 2017 3:39 am

i think the thing that you need to look into is lenght of the new loan.

If you are on a 30 year loand but have paid 15 years, you definitely don't want to restart another 30 year loan..
Gad
 
Posts: 52
Joined: Sat Jan 11, 2014 5:46 pm

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby roano84 » Mon Oct 02, 2017 11:04 pm

I am Hellen Brown live in the United State, am in need of a loan of $16,000 and i was scam severally by those fraudulent lenders, before i was introduce to Mr Wa Jerong Who help me with loan without stress, If you are in financial stress contact him at [email protected]

I can give you the full story of how i got my loan from him.

Hellen
roano84
 
Posts: 66
Joined: Wed Jul 31, 2013 9:09 am

Do All Mortgage Companies Charge The Same Fees To Refinance Your Home Loan?

Postby Koen » Wed Oct 11, 2017 11:18 pm

You should get a btter deal fee wise from your current lender.
That said, most companies charge some fees, but they do vary.
Koen
 
Posts: 48
Joined: Tue Jan 07, 2014 5:50 am


Return to Business Insurance

 


  • Related topics
    Replies
    Views
    Last post
cron