3 Things To Look For In A Mortgage Refinance Lender Online

3 Things To Look For In A Mortgage Refinance Lender Online

By Carrie Reeder

With all the Mortgage Refinance lenders available online, choosing the right one can be a daunting task. Picking a reputable loan company can help ensure a good interest rate, a low cost loan, and excellent customer service. So as you compare Mortgage Refinance lenders, look for these three things:

A good reputation

Your online Mortgage Refinance lender should have a solid history of customer service and online lending. Check their reputation with the Better Business Bureau, and make sure the company has been around for at least a few years since bad lenders tend to go out of business quickly. Ask among friends and family, too, and you may find someone else who has used the same online lender.

Reasonable rates and fees

Ask for full disclosure of all rates, fees and extra charges. (Every reputable loan company should be willing to provide a document that lists their fees.) Pay close attention to points, prepayment penalties and additional fees like "document preparation" fees and "credit report" charges. If the extra costs seem unusually high compared to other lenders, you may want to consider choosing a different company.

Strong customer service

A super low rate or a bargain Mortgage Refinance deal won't matter much if the company provides poor customer service. If the loan officer is "out to lunch" every time you call, or if you believe you're not receiving the attention you deserve, continue to shop around for lenders.

A company with great customer service will answer your questions, try to meet your refinancing needs and provide you with personal attention. You should never feel pressured, and you should be made to believe that your business as a customer is the loan company's top priority.

Remember to compare many different companies as you look for an online Mortgage Refinance lender. You're not obligated to stick with any particular lender until you sign the paperwork. Before you commit, take the time to explore other loan companies and banks.

Carrie Reeder is the owner of http://www.abcloanguide.com. View our Recommended Mortgage Refinance Lenders Online. Also, view her recommended online Debt Recovery Solutions. Article Source: http://EzineArticles.com/?expert=Carrie_Reeder

3 Things To Look For In A Mortgage Refinance Lender Online

100% Home Mortgage Refinance – Choose a Lender Online

100% Home Mortgage Refinance – Choose a Lender Online

By Carrie Reeder

100% home mortgage refinance frees up your money for other purchases,
like a second home, renovations, or debt consolidation. To get the best
deal on your cash out refi, look online for your next lender. By
evaluating loan quotes that you can get in minutes, you can save thousands
with just a couple hours of research.

Better Mortgage Lenders Online

If you like low rates and fees, then you will find your best lenders
online. Technology and competition has pushed down refinancing costs,
saving you money.

Online financing companies also give free personalized loan estimates,
so you have real numbers to make your refi decision. Requesting quotes
is also a good way to "test-run" a company to make sure they deliver on
prompt customer service.

Items To Check Before You Sign

Interest rates should be at the top of your list when researching
lenders. But also take a look at closing and miscellaneous fees. On average,
your refinancing closing costs equal no more than 3% of your principal.
But for 100% refinancing, you may have to pay more, especially if you
have poor credit.

Early payment fees should also be dropped, in case you
decide to move or refinance again.

The APR will give you a picture of the total cost of the loan.

There

are cases when a higher rate loan might actually save you money though.
For example, if you plan to move in a couple of years, you may get a
bigger savings by not forking out thousands at closing, even with the
higher rate.

For these types of situations, you need to use your calculator
to determine which is the best option for you.

Commit When You Are Ready

When you have found the right loan package, commit to it as soon as
possible to lock in rates. Your application can be completed online in
about ten minutes with final paperwork arriving in the mail in a couple of
days.

Once your contract is complete and received by your lenders, your
money can be wired to the appropriate accounts. From start to end it
takes about 10 business days.

Carrie Reeder is the owner of http://www.abcloanguide.com Visit her site to find recommended lenders for 100% Mortgage Refinance. View her recommended lenders for 100 percent mortgage refinancing online. Also, view her recommended companies online to help you with consolidating debt. Article Source: http://EzineArticles.com/?expert=Carrie_Reeder 100% Home Mortgage Refinance – Choose a Lender Online