Everything you need to know about refinancing

Golden Valley, MN. Bathroom Remodeling.

Learn about how home mortgages work. There are all kinds of ways to refinance your home. Fixed rate, adjustable, subprime, jumbo, balloon, and two step mortgages. In the next chapter you’ll learn how your mortgage payment is calculated. Including your credit score, down payment amount, mortgage insurance, points and how lenders set their interest rates.

This guide also goes into the paperwork and fees you can expect, for example; questions to expect from mortgage lenders and 10 questions you should ask. After you apply for the mortgage, the process is just beginning, you’ll have to deal with underwriting, inspections and insurance.

Finally once you’re approved, you’ll have the closing. In this chapter they discuss the closing process and escrow accounts.

“There are two primary reasons to refinance a mortgage: to get more desirable rate and terms or to extract cash from the home’s equity.”

See the article Refinancing

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 Golden Valley, MN. Bathroom Remodeling.

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