Conversations With A Pug: Should You Refinance?

Hi and welcome to our very first blog posting!

I hope you enjoy what I have to say and that you find these words useful!
Should you refinance? Maybe you need a little extra cash for a home renovation or to consolidate your credit cards, or perhaps you simply want to save some money. Whatever your reason, refinancing your home loan can be a smart move as long as you get a low rate and equally important, the right loan structure. This combination can save you thousands of dollars in mortgage repayments over the life of your loan. Here are some simple tips that can ensure you get the lowest rate possible on your Home Refinance Loan.
Many lenders are now using your credit score as one tool for determining your interest rate. In general, the better your score, the lower your rate. Before applying to refinance your mortgage, check your credit report and look for any errors. If you find a mistake that’s negatively affecting your score–such as a payment marked as “late” when you sent it on time, or a line of credit that doesn’t belong to you–be sure to correct those errors. I’m more than happy to point you in the right direction. All you need to do is ask!

Shop Around For a Mortgage Broker

You might not necessarily get the best deal from the same lender that holds your mortgage loan. Make sure you check out offers from other lenders. The very best way to do this is by engaging a mortgage broker that will check out numerous lenders for you. A mortgage broker takes the time to negotiate with lenders. He / She will let prospective lenders know that you have other options and that you’re looking for a great deal. They generally mention their competitors so they know you’re serious about your loan, and are prepared to walk away if the lender won’t give you the best rate.

Remember: the interest rate is only part of the expense of refinancing. In many cases you’ll have to pay fees and other extra charges. You can lower the cost of your loan by asking your mortgage broker to have these fees waived or lowered.
If this sounds like what you’re looking for please feel free to contact me and start a conversation that matters.

My Very Best To You Always,

Frank ‘The Bank’ Barragan

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