Refinancing Tips Five Steps To A Speedy Loan For You

Many homeowners complain that,​ in​ these days of​ refinancing fever,​ customer service is​ sluggish,​ at​ best. Lenders don't return phone calls or​ reply to​ emails,​ leaving consumers in​ limbo. Here are five things you​ can do to​ help grease the​ wheels before interest rates have another chance to​ rise.

1. Have your ducks in​ a​ row: Documents are the​ name of​ the​ game when it's time to​ processing a​ mortgage loan. Call ahead and find out what you​ need to​ bring before you​ sign the​ application on​ the​ dotted line. These may include tax returns,​ legal papers,​ or​ your spouse (to sign paperwork). if​ you​ have everything ready when you​ show up at​ the​ bank,​ things move quickly.

2. Be ready for the​ race: It's great if​ you're "on the​ mark" and "set;" but if​ you're not ready to​ "go,​" you​ may be eliminated from the​ race. if​ fees are due for credit checks,​ appraisals,​ etc. before the​ closing can take place,​ make sure that you​ have the​ money in​ hand,​ and pay them promptly. if​ you​ aren't ready to​ lock in​ a​ rate,​ your home mortgage application process may not go forward. By the​ time you​ finally decide,​ more decisive customers may reach the​ finish line first.

3. Treat it​ like a​ doctor's appointment: When you​ go to​ the​ doctor with a​ specific complaint,​ the​ most important thing is​ to​ communicate your symptoms. This way,​ the​ doctor can prescribe the​ ideal remedy. Before you​ make an​ appointment with a​ mortgage loan officer,​ write down your top five reasons for refinancing. This way,​ you​ can get the​ exact mortgage package that's appropriate for you.

4. Narrow the​ field: Use the​ Internet to​ research various mortgage options,​ and narrow the​ field before you​ talk to​ your lender. Do you​ want an​ adjustable or​ fixed rate? Do you​ want to​ pay the​ same amount each month,​ but shorten the​ life of​ the​ loan? Are you​ trying to​ free up some needed cash,​ or​ just hoping to​ lock in​ a​ lower rate? Do you​ want to​ pay down principal,​ or​ just pay interest? Ask yourself these questions ahead of​ time. By knowing your priorities,​ it​ will be easier for your lender to​ suggest the​ home loan mortgage refinancing that best fits your specific needs.

5. Don't babysit the​ mortgage refinancing loan process: Once the​ loan is​ in​ progress,​ keep in​ touch with your lender,​ but don't become a​ backseat driver who looks over the​ loan officer's shoulder every mile of​ the​ way.

By following these five simple protocols,​ you'll greatly assist your loan officer. And that translates into helping yourself to​ a​ smoother and faster mortgage loan refinance.
Refinancing Tips Five Steps To A Speedy Loan For You Refinancing Tips Five Steps To A Speedy Loan For You Reviewed by Henda Yesti on August 23, 2018 Rating: 5

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