Finding the Right Home Mortgage Lender

Finding the Right Home Mortgage Lender: "If you read my post, entitled '4 Signs of a Refinance Scam', then you're probably wondering the best practices for finding the right mortgage lender.
There are a lot of frauds out there and a lot of lenders with hidden costs and fees that you probably wouldn't think to ask about. The idea is not only to find a lower interest rate but also to find the best interest rates and lowest costs available. Just think, a tiny difference in percentage could be the reason for you to default on your loan, and even if you think you can pay the rates today, you never know what future rates will do. Here are some keys to finding the right home mortgage lender for your refinancing needs.

* Know why are you refinancing: When I was looking into refinancing 10 years ago, I knew very little about where to start. The only thing I knew was that I wanted to lower my monthly payments and hopefully decrease my loan term as well.

Whether you need a lower interest rate, want to change the term of your loan, or need to free up cash for another investment (see 'Reasons for Refinancing'), there are different mortgage options to choose from depending on your needs. You want to be able to articulate your needs to mortgage lenders so that they can find you the best option. Additionally, if they think you are well researched, they won't try to get away with scamming you."