Finding the Best Refinance Company
With rates being so low and the tenor being so clearly geared towards the buyer in the housing market these days, many people just sort of assume that finding the best refinance company is as simple as opening the Yellow Pages, flipping to a page, and pointing your finger down. Unfortunately, mortgage companies are businesses and when they can’t collect a huge percentage of your loan when rates are high and things are competitive, they instead may switch to more dubious ways of making money. Here are some things you should be aware of if you are shopping around for a place to refinance your loan.
What You Need to Know to Find the Best Refinance Company
- Rate: Obviously, you want to be getting the very best rate when you do decide to refinance. The best rates are going to be pegged to longer term interest rates and you can find those in financial publications daily.
- Points+: You need to be sure that your refinance company isn’t charging you points or other unnecessary fees to drive up their profit. You should also be clear with them that you must know all of the potential fees and such upfront.
- Open: Finally, you want your refinance company to be open to seeing things through your eyes. If they begin to get hostile and try dictating terms to you, that is a sure sign of desperation.
If you have been looking for a refinance partner and you can’t find one, that shouldn’t shock you. Even with all of their teaser figures and ebullient promises, many mortgage companies have all manner of stipulations and other things which can turn your mortgage refi into a nightmare. Don’t let them win. If you need help finding a great refinance company we here at Paramount Equity can help. We will do our best to get you a great rate.