Home Loan Refinance Do's and Don'ts in California Best Mortgage Brokers in CA

Home Loan Refinance Do's and Don'ts in California Best Mortgage Brokers in CA. California real estate brokers license requirements

Home Loan Refinance Do's and Don'ts in California Best Mortgage Brokers in CA video duration 12 Minute(s) 6 Second(s), published by Teresa Tims on 12 09 2018 - 20:27:53.

Teresa Tims, President of TDR Mortgage In Upland CA www.thesocalloanpro.com Home Loan Refinance Do's and Don'ts in California Best Mortgage Brokers I'm a real estate agent who works in the Nashville, TN area
Email me for any of your real estate needs in Middle TN! derrickhardingrealestate@gmail.com .

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Teresa Tims, President of TDR Mortgage In Upland CA www.thesocalloanpro.com Home Loan Refinance Do's and Don'ts in California Best Mortgage Brokers in CA

Today, I am going to talk to y'all about refinancing. Doesn't that sound fun? Everyone's all no, that doesn't sound fun. I'm often giving quotes for people and talking about dos and don'ts and helping people evaluate whether a refinance is a good idea, so I thought it would be kind of cool to just throw out a gentle reminder about refinancing. Like refinancing dos and don'ts.

All right. Let's get down to business. When you're looking to refinance you should . I highly recommend reaching out to friends and family members. Oftentimes when they've had a good experience, you can look to that person that provided the good experience in a positive way, right? You have direct . one of your friends or family members has direct . has direct experience with this person or company. I really think the trust factor is big. Sometimes though, we don't always people that reach out to and to ask or get referrals from. Right?

The next few items are super, super important, too. The next few items you're of course, you're going to be inquisitive about price, about the interest rate and the cost. What a lot of people make the mistake of doing is when they're looking at the cost of the loan, so those are all the fees. Right? Your escrow, title, lender, appraiser, recording, notary, all of that stuff. Those are fees. Then you have your interest rate.

The things that are relative when you're shopping are going to be apples and apples. When you're looking at an interest rate, don't look at the tax insurance portion of the cost because that is something that we don't, I don't control the taxes. The taxes are . Right now when we're doing loans, we're estimating about nine months. But another lender may not be so savvy and he might throw out there that he's only doing two months. It's not fair to compare my nine months versus his two months because that's really irrelevant. When you're shopping on fees, you're really looking at what is a lender charging. Are there any discount points? How much is the processing fee, the underwriting fee? Those are the main things that you're going to be looking for. Processing, underwriting, and points. That's where you're going to be looking for the all things equal.

Then, more importantly, if the lender is telling you a certain price, can they deliver in two or three weeks or a month or whatever? I know a lot of people that I have gone with their bank, they're with their bank like fricking six months later and the bank's still not making it happen and they're just not savvy enough to guide you through the process if you have some difficulties. Like just real life stuff. A lot of people have divorces or title issues or maybe the home isn't completely in a position to be appraised and what are the ways around that? There's so many different things where you need somebody that's a trained and experienced in lending to guide you.

There are maybe a few people that have more reviews than me. Justin Brown, for example, he has like a million reviews but I don't know, I'm jealous actually. That's why I said that. I'm jealous he has so many reviews. Well cheers to Justin Brown, too! Right? Another lender giving another lender a shout out.

You pay attention to that stuff. You need to be able to validate the people that you're working with.

Are they savvy with appraisals? Sometimes, an appraisal makes or breaks a deal. Like right now, I've got a transaction where somebody wants $40,000 out. If I can't get the appraisal in at 390 . if I can't get the appraisal in at three thousand [inaudible 00:06:34]. If I can't get the appraisal in at 390, then my family is not going to get the $40,000 that they need

At TDR Mortgage, we take extra care on our refinances to arm you with sales comparables. Okay.

Oh, will they give you an appraisal credit at the end like TDR Mortgage? At the end of the transaction is this online lender or your bank or loan servicer going to actually pay for your appraisal?

Are they a mortgage broker? Is the person or company you're working with a mortgage broker? Did you know that direct lender folks, bank folks, when they're out shopping for a home loan, oftentimes they end up with a mortgage broker. A lot of really savvy financially educated people come to mortgage brokers. It's kind of like a little inside secret, because lots of people don't really know that mortgage brokers, not only do we have to maintain a very high level of credentials out there, but we also have access to really super low interest rates.
These are all questions that you should be asking yourself when you're looking for someone to help you evaluate a refinance.

Company NMLS #390767 Individual NMLS MLO # 267236
Company BRE # 01889552 Broker License BRE # 01269949