House of Mortgage

House of Mortgage

  • Home
  • About
    • About Us
    • Privacy Policy
  • Blog
  • Resources
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
    • Closing Costs
    • Government Loan Programs
    • Home Appraisal
    • Home Inspection
    • Loan Checklist
    • Loan Process
    • Loan Programs
    • Mortgage FAQ
    • Mortgage Glossary
  • Apply
  • Looking for Homes?
  • Newsletter
  • Contact

The Required Steps For A Smooth Mortgage Refinance Process

October 29, 2020 by Joanne Ahn

The Required Steps For a Smooth Mortgage Refinance ProcessThere are lots of people who have heard that one of the top ways to ensure the best mortgage rate possible is to refinance. At the same time, it is critical to make sure that this process is planned out accordingly.

Therefore, there are a few steps that everyone has to follow to make sure they are able to handle the mortgage refinancing process in a smooth manner that leads to the best rate possible.

Ask If A Refinance Is The Right Step

There are a lot of people who assume that a mortgage refinance is a financial win; however, it is important to keep the added costs in mind. For example, the refinancing process is going to lead to another closing. When this happens, there are going to be closing costs that must be considered.

Therefore, the refinancing process could lead to a higher mortgage payment if the money saved on interest payments is not enough to offset these costs.

Check The Credit Score First

Many people get lured into the refinance process by looking at low mortgage interest rates and assuming they are going to qualify for them; however, this is not always the case. Only the people with the top credit scores are able to qualify for these low rates. Therefore, everyone needs to take a look at their credit score and make sure that their credit report has been cleaned up. This is the only way that people are going to be able to qualify for these low rates.

Talk To A Trained Professional

Finally, many people are going to be going through the refinance process for the first time. It is important to work with a trained professional who can walk everyone through this process, ensuring that they know what they are doing as the process unfolds. This can go a long way toward ensuring that everyone has a successful refinancing experience.

Go Through The Right Steps

Following these steps can maximize everyone’s chances of making sure they end up with a refinance that works for them. By planning out the process ahead of time, everyone can go through the steps they need to make sure that the refinancing process proceeds as smoothly as possible.

Spread the Love!

Filed Under: Mortgage Tagged With: Mortgage Rates, Mortgage Tips, Refinancing

Joanne Ahn

Joanne Ahn


Mortgage Broker
Call (415) 999-2439
joanne.houseofmortgage@gmail.com

NMLS# 352117
House of Mortgage
  GET A QUICK QUOTE 
  LOOKING FOR HOMES? 
  I have off-market listings
you won't see here!  

How can I help?


0 / 180

Connect with Us!

Categories

Equal Housing LenderDRE #01887602, NMLS #352117 General Mortgage Capital Corporation DRE #01354058 NMLS #288699

Return to top of page

Copyright © 2023 House of Mortgage. All rights reserved.   Log In