Smart Mortgage Refi

by Jill
(Southern California USA)

This is a message for anyone seeking a smart mortgage refi. I was playing tennis with a friend yesterday who just refinanced his home loan and he told me this story.



He went to the local branch of a large bank where he has his current loan to apply for a mortgage refinance.

In today's environment, banks are much tighter about documented income. Even though he owns his own company, he could document his income. Long story short, the local bank basically was not being very helpful.

So he decided to "look around" at the same bank but in a branch that was not local. He found a mortgage broker out of state willing to work with him. Good news, he just got a 30 year fixed rate mortgage at 4.50% rate, lowered his monthly house payment from about $3500 to $2500 and this included having his property taxes paid.

So looking around is the key and not taking "no" for an answer but find out how to get to "yes". And it may be just as simple as going to a different mortgage broker!

Kate Answers: Smart Mortgage Refi

Dear Jill,

Thank you for contacting Get-Your-Best-Mortgage-Rate.com regarding your friend's smart mortgage refi. I know other Readers will benefit from your contribution.

Take a moment to bookmark this page to your favorites and visit often for more home mortgage financing tips. You can also invite friends to comment on this page or ask a question of their own like you did.

Best Wishes,

Ask Kate how to get the best mortgage rates
Ask Kate


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

Finding Help You Need for Refinancing

Refinancing Advice - Your opportunity to get down to earth refinance nuts and bolts from a mortgage insider.

Having trouble refinancing your mortgage due to fallen property values? Go to Special Edition Making Home Affordable Options.

USDA Rural Home Loan Refinance with no appraisal, no credit report, and no debt-to-income calculations.

Announcing Kate's Mortgage Information Planner - To save money, get your ducks in a row first.

Are you a homeowner trying to decide if Mortgage Refi is worth the cost?

How To Compare Mortgages - Yes it is enough to make anyone want to toss up their hands.

New! Ask Kate's secret to reducing mortgage refinancing costs. Home buyers should read this too!

Real Estate Investor Loans - Three options for investors.

Surprise, it's a barn! Is a Certificate Of Occupancy necessary for your home mortgage refinance?

Refinance With Cash Out - Where is my loan approval?

Save money using My Special Refinance Formula.

Fresh Refinance Ideas - Reasons why and why not to refinance.

Discover my Secrets To Refinancing based on Robin's story

Low Mortgage Payments For Home Owners - Learn how to ask questions and qualify your lender.

Don't be distracted by refinancing lingo. 10 best kept secrets to Low Mortgage Payments.

A collection of Ask Kate Refinancing Questions and Answers II.

A collection of Ask Kate Refinancing Questions and Answers I.


Back to How To Compare Mortgage Rates Online - A collection of real life stories contributed to this website by Readers just like you.

Home to Get Your Best Mortgage Rate from Smart Mortgage Refi

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

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