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What mortgage companies are best for refinancing at lower rates?

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3 Responses to "What mortgage companies are best for refinancing at lower rates?"

  1. Kathy S says:
    I think you just have to shop around for the best. Everyone’s situation is different, just because I got a great deal at “so and so” doesn’t mean you will. :o )
  2. Lisa L says:
    The one I work for, of course. Just be sure to look at more than rate. Check the closing costs. All things are not always equal. If it sounds too good to be true it probably is. Don’t fall for the “It won’t cost you anything.” They are just putting your costs back in your loan.
  3. financing_loans says:
    All companies have different rates depending on where they are at. Its like going to buy Gas. Drive a block down the street and the price is different. Same company different prices. Its true of mortgages as well, its simply supply and demand.

    I disagree with the second poster that a no cost loan is added to your loan. In a way it is in a way its not. As a borrower you can say okay my principal is 200K when I close my loan I want it to still be 200K. Not one penny more, what is my rate? The broker then will look at what banks will pay for your loan. They have to pay title, lenders fees, their own cost of business and say… Okay if I do your loan at 5.5% I can pay all your fees. Your loan will still be 200K, not one penny is added to your loan. Im sending you to a company that when rates go down we can streamline (still at no cost).

    It can be done, Ive done 100′s of loans this way and keep streamlining them. And no their principal doesnt go up one penny. It all depends on if the lender will do it for 1000 dollars or less.

    Point is rates should go down in the future. Dont pay for a loan, let the bank pay the costs. When you are ready to do your last loan then consider using your own money to pay for it. Otherwise have the broker pay it out of the yield spread premium.

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