FHA Refinances

by Remington from Logan, Utah, USA

Regarding FHA Refinances: Kate, I have a question about FHA refinances. I keep getting told by my lender that my rate will be 5.25 percent, a great mortgage rate, but I keep getting told by two other friends, (all of us with excellent credit) that they got 5.0 percent.

***zz-c2-credit.shtml***

I am on a float option now waiting to lock in my interest rate. How can I track rate trends and know when to lock in?

Also I know location matters in this situation, so I live in Utah. Also is it worth it to go away from a big reliable bank, and refinance with a smaller company offering a better rate?

Kate Answers: FHA Refinances


***zz-portrait-left.shtml*** Dear Remington, My answer may surprise you. Stop shopping for the lowest mortgage rate!

Instead shop for the best mortgage lender. I have a saying. Qualify your lender. That's what I told my neighbor Robin who has a similar story to yours. You can read it here.

As mortgage borrowers, we are accustomed to making loan application and being subjected to the approval process. But as a consumer, we need to go about this differently. We should actually be qualifying our lender BEFORE our lender qualifies us!

Now I understand there wasn't too much of this taught in school. That's why I wrote the Easy Path To Low Mortgage Payments full of questions to ask your lender. Yes, questions to qualify your lender!

Along the same vein, go to my Six Step Plan where you can learn short cuts to comparing mortgage lenders.

Since you are interested in FHA refinances, I have included more links for you at the bottom of this page, overflowing with useful and convenient information here on this website.

I want to wish you luck with your mortgage. Please feel free to return with more questions.

Best Wishes,

***zz-sig-left.shtml***

PS If you still have questions regarding FHA Refinances, write me at Ask Kate where every question is a good question.

***zz-below-the-fold-affiliate-link.shtml***

***zzz-link-fha-va.shtml*** Home to Get Your Best Mortgage Rate from FHA Refinances

***zz-c2-ad.shtml***

Help Spread The Word

Please come back and visit often. Help me spread the word by sharing FHA Refinances with your friends using these easy social bookmarking buttons. I depend on word of mouth!


Click here to add a comment.

You can also ask Kate about your mortgage at How to Find Your Mortgage Lender.

Recent Articles

  1. Lock Mortgage Rates - How To Avoid Hidden Fees

    Aug 06, 18 11:58 AM

    If you lock mortgage rates over the phone, how do you protect against excessive points and hidden closing costs? Learn what to do when your lock is threatened.

    Read More

  2. Finding Low Down Payment Mortgage Financing

    Aug 06, 18 11:53 AM

    Getting a low down payment mortgage: Learn the first two steps to financing niche properties in resort areas. Tip: It's not about timing the real estate market!

    Read More

  3. Ten Best Kept Secrets to Low Mortgage Payments

    Aug 06, 18 11:45 AM

    Ask Kate's secrets to low mortgage payments help homeowners understand industry lingo related to refinancing. Learn how to get your best mortgage rate!

    Read More