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Three Insider Secrets To Getting Low Mortgage Payments

By Kate Ford

Republish: EasyPublish™ Published: 30Jul2008 Word count: 803 Viewed: 457 time(s) Get Free Content For Your Site

You don't know it yet but at the end of this page you will have learned three insider secrets to getting low mortgage payments.

You will understand how important it is to be able to explain in one sentence the purpose of your mortgage refinance. You will feel confident knowing you are prepared with the proper details before contacting a lender. You will know to ask questions in order to find the lender that best fits you.

My name is Kate Ford. I am retired now but I have been in mortgage lending for more than 20 years. You could call me a mortgage insider. Over the years I have studied the mortgage business as well as my own clients to learn the often obvious as well as the not so obvious secrets to home loan financing.

If you are like most people, when it comes to getting the lowest payments and the best mortgage rates, you probably feel uncomfortable with the terminology and unfamiliar with the mortgage process. I can't blame you. There is no school to teach you how to refinance a home. I wish there was.

But there is something that you can do to take better control of your mortgage destiny.

Look! Here are three little known secrets to refinancing a home to get your best mortgage rate. These secrets may seem like common sense to you but the best kept secrets are the ones often hidden in plain sight.

Here is secret number one. Know what you want before you ever begin your search.

Seems logical, doesn't it? You cannot imagine how often I heard people tell me they wanted the lowest mortgage rate. However, they couldn't explain the reason for their refinance or perhaps felt it was unnecessary.

But listen. Everyone wants the lowest mortgage rate. That is a given. In order to get the best interest rate, a lender needs to know your purpose to refinance.

So focus on why you want to refinance. Help yourself and your lender by determining what you want before you get online or pick up the phone.

Ask yourself this simple question. If I were to tell someone in one sentence why I am refinancing, what would it be? Are you refinancing to pay down debt? To remodel? To reduce payments? To pay off a 2nd mortgage? The better you know your primary purpose the better results you are likely to see.

Secret number two is next. Whether you search for a lender by phone or by internet, take a few moments to prepare. Mortgage lenders are going to ask questions about your income, employment, expenses, and type of property you are financing. You will feel more confident and less frustrated if you don't have to go searching for answers while online or on the phone. This will save time, save energy, and especially save money on your refinance.

Secret number three is not so obvious but I can help. You may have to change the way you think though. Qualify your lender before your lender qualifies you.

What? Yes, you really did hear me. Before getting qualified for a home loan, you want to qualify your lender.

Why? It's important to determine if this is the right lender for you.

Most borrowers never think about qualifying their mortgage lender. I doubt if anyone has ever told you this hidden secret. But knowing what to ask is the first step to getting it. In fact, qualifying your lender is the most important exercise you can do when deciding what mortgage lender is right for you.

Most people are not aware of these hidden secrets. It has taken me 20 years to synthesize these and other secrets so that I could make it easy for the average homeowner and home buyer to find the best mortgage for their present circumstances.

Remember secret number one. Before you begin your search for a lender know what you want. Be able to explain in one sentence what is the purpose of your refinance. If you can do that you will be way ahead of the game before you ever get online or on the phone.

Secret number two is be prepared before getting online. Gather personal details regarding income, employment, expenses, and your property. You will feel much more confident knowing you already have the answers before the questions are asked.

Qualifying your lender before your lender qualifies you is the third secret and the one most hidden from view. I think it is the most important and the most difficult to master. Asking the right questions will make it so much easier to find the lender that is right for you.

Discover how much easier refinancing can be by simply following these three insider secrets to getting low mortgage payments.

Good luck refinancing.

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