Home Refinancing Tips

by Donna from Washington DC, USA

I need home refinancing tips. I am 60 years old. My arm loan at 6.0% will end in October. I need to refinance. I have a second morgage of $20,000 to pay back to government program. I owe $93,000 to first mortgage.

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My home is appraised at $113,000 which is $7,000 less than what I bought it for. Do I try to pay some on the second mortgage. Do I try to fix my home more. Please help, getting older every day. Donna

Kate Answers: Home Refinancing Tips

Dear Donna, Thank you for contacting Get-Your-Best-Mortgage-Rate.com for home refinancing tips. You are smart to be contemplating your refinance a couple of months early.

Who you choose as a mortgage lender will make a big impact on the success of your refinance. Having the right mortgage representative to walk you through the coming months will also provide peace of mind.

Review these six secrets to shopping for your best mortgage lender as you compare mortgage rates. Follow the steps to make the most of your time.

Knowing what to ask is the first step to getting it. This page Low Mortgage Payments will guide you through questions to ask a lender.

It's a novel concept but every homeowner needs to qualify the lender just as the lender qualifies an applicant because no one is going to care more about your mortgage than you.

After reading through the pages, please let me know if you have more questions. Take a moment to bookmark this page to your favorites and visit often for more home refinancing tips.

You can also invite friends to comment on this page or ask a question of their own like you did.

Best Wishes,

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P.S. Go to my Best Mortgage Rate Blog, an entertaining source of mortgage information. Subscribe now to the RSS feed.

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You can also ask Kate about your mortgage at Refinancing Advice The Nuts and Bolts.

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