How To Find Low Home Mortgage Refinance Rates While Rates Are
Rising
2 years ago bargain mortgage rate shoppers are on a refinancing
spree. While many homeowners seeking to reduce monthly payments
and overall rates have secured unbelievably great deals, others
have gotten the short end of the stick. Now that rates are
rising the question is how can you refinance your home without
getting burned?
The key to successfully locating low home mortgage rates is
making use of online lending marketplaces. These marketplaces
are like highly competitive auction houses. Lenders seek to win
the users business by offering competitive rates, fees and
incentives.
The fist step is finding out how much you can afford. This
largely depends on your credit score. A helpful site called "How
Stuff Works" at http://money.howstuffworks.com/credit-score3.htm
explains "Your credit score doesn't just affect whether or not
you get a loan; it also affects how much that loan is going to
cost you. As your credit score increases, your credit risk
decreases. This means your interest rate decreases."
Mortgage Loan Search at http://www.bcpl.net/~ibcnet provides
articles tips and tools to help users see how to get around
various loan fees and added costs as well as how to make several
lenders compete for your business.
Personal finance resources aim to help the user understand the
lending process from a consumers perspective. Once such site is
RefinanceLoanRates at http://refinanceloanrates.fimark.net. This
site features articles such as:
Is Now A Good Time To Refinance?
StreamLine Home Refinance Programs
15 Reasons To Refinance Your Home
Advantages of Cash Out Refinancing
It is always best to read news, tips and guides to be better
informed about the lending marketplace as well as how current
housing and economic trends will impact your money. Consumers
should consult their mortgage professional to find out if these
programs will work best for them. Because rates are beginning to
rise loan rate shoppers seeking low rates for refinancing or
home buying should not delay preparing to lock-in rates at
today's lows.