THE BEST REASON TO WAIT-MAYBE THE RATES WILL DECREASE...
What is the best way to know when to take action?
This could be the best time for you to refinance.Rates already become so affordable that dropping your current rate by 1% or switching from adjustable or variable to fixed, just makes sense.
How would you ever know how much your payment is without calling every bank and mortgage company in town?
Easy.
Visit a reliable mortgage calculator like can be found at www.kashmortgage.com
Input your numbers and proposed interest rate or even the rate you hope to get and you will get a payment quote. It is free and you will not be contacted, unless you request it.
It all seems confusing? Are there any tips on how to know where to start?
Here are some tips:
1. Find out your score or at least know your credit profile. Example: when you last were late on a mortgage payment, the last collection account you had, if you have been late on anything in the last 12 months. Have you had a bankruptcy in the last 10 years, if so-when was it filed and if discharged, know the exact date when.
2. Be honest with the lender exactly what you are looking for.. the lowest rate, the lowest payment, no out of pocket expense. If you arm your mortgage lender with the exact requirements, they can do a more professional job for you and waste little of your time on offers that do not interest you.
3. Do not apply with the big, impersonal lenders like lendertree.com and the like.
They may get you several calls, but you will likely be badgered to give your personal info including your social security number over and over again.
4. Choose a lender in KY that has a good reputation. If they are not a BBB member (www.bbb.org) , do not deal with them. If they are not a member of the Ky Mortgage Brokers Association (www.kmba.net), do not deal with them. Choose carefully. You want the lenders above because they are committed to excellence, service and a high degree of ethics. All KY mortgage broker loan officers must be licensed. This is not true of the banks or of some of the largest .com lenders. Absolutely ask if your loan officer is licensed with the Commonwealth of KY. If they say yes, they have gone through FBI fingerprinting, continuing education and are monitored.
5. Ask your loan officer how much experience they have in mortgage lending. If they do not have 2 years experience, ask for another more experienced loan officer.
6. Check out the company that you wish to deal with on their website. Make sure they have a website and an actual location in Kentucky.
If you need other helpful hints, please email me at teresa@kashmortgage.com or visit me at our website at www.kashmortgage.com where you are welcome to apply 24/7, 365 days a year.
Feel free to post before you leave. I hope the info helped and I truly hope you find just the right mortgage at just the right time.
