Refinancing Advice Why Rates Change Before Closing

by Tom
(Keyport, NJ)

Refinancing advice to avoid surprises...During a refinance of my home, I called a mortgage rep and we went over credit and income and available programs. I settled on a product, sent all documents, the w2's, bank statements etc. Then I set a closing date.

Two days prior to closing, 1 discount point was added to the mortgage closing costs. So the amount of money I needed to pay at closing changed.

Also some other mortgage products previously spoken about were no longer available to me?

---

Did You Qualify Your Lender?

Dear Tom,

Unless it's your birthday, let's face it, no one expects a surprise at closing. Good news! There are ways to avoid surprises while refinancing.

Always ask for a mortgage rate lock guarantee in writing. Interest rates go up, down or stay the same, sometimes all in one day. I guarantee that! Lock in your best mortgage rate to eliminate those last minute fire drills.

Here is my best refinancing advice, discover how to choose the best mortgage lender. Ask these questions to guarantee low mortgage payments.

Best Wishes,
Kate

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

The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com.