REFINANCING

[fishinbabe]

Looking to refinance, and just wondering if anyone out there has had good luck with certain companies that don't rob you in charges?????

[Jackpine Rob]

When you talk to the loan officer, make sure you get a Good Faith Estimate. It is a sheet of paper that lists all of the loan and title charges so you know exactly what you'll be paying. If you have questions - ASK! I have lost track of the number of times I've been sitting in a closing and the customer is just then getting around to reading things and looking at the charges. A little late!!!

It doesn't hurt to shop around a bit, and tell the loan officer you are doing so. When you decide on a company, they are going to hit you up front for an appraisal fee (typically $300-$500).

Good luck!

[BoxMN]

I have found that your local credit union is usually pretty good. They have seemed to be less likely to sneak things past you (fees) but not always. Question everything. And don't let all of them check your credit, only the one you want to go with, as a bunch of credit check hits will hurt your score a bit.

[18 inch Crappie]

Try Bankrate.com You want to look at the rate plus the APR. that will tell you what your paying in closing charges. Price line was the lowest at $990 in closing cost some wanted $2000-$3000

[anyfishwilldo]

I got one of those calls the other week, and they painted a rosey picture. I decided to talk with them (HFC). They came up with a decent program, but when I looked at the good faith sheet, I almost crapped myself. They wanted over 7000 for thier fees. I very nicely told them that even if it was a 2% loan, I still won't pay them over 7K just to shuffle some papers.

[fishlips]

I refinanced using internetmortgage.com ~ check it out. They used to post their closing costs, but now they ask you to fillout a form first. From what i recall, the closing costs were under $900 - very reasonable. You can use their closing costs as leverage to get a local bank to come down in their costs. Yes - it can be scary to do this over the internet, but you do most of the paperwork via forms and mail and you decide which title company to schedule the closing at. They make sure the paperwork is there ontime.

[Johnny_Namakan]

BoxMN,

Something most people aren't aware of is that when your credit gets pulled, any additional pulls within a 30 day period don't count against your credit score. I used to be a mortgage broker so it is something I have dealt with. To be honest, have as many people as possible pull your creidt to make sure you are getting the best deal. Just make sure they are all within the 30 day window from the first pull, or after that it will count as additional hits. So, shop around and find the best deal, just do it all at once and not spread out over a few months. Good luck!