Wendy Morris Presents:
The Florida Dream
Wendy Morris Realty
Dr Phillips Luxury Real Estate
407 479-8583
Call Today!

Listing Search

Refinancing

NEXT
PREV
  Follow me: Kevin Strawter on Facebook Kevin Strawter on LinkedIn
Fri, Jun 29, 2018 at 5:15PM

Provided you have a much higher interest rate than the current market "consider these four options" when it comes to refinancing.  Beef up your credit with all debtors, this means paying on time every time. Do not open any new cards.  Lenders look for a good trend of payment history, preferably two years on credit cards as well. The higher the score, the less risk you are in the lender eyes which will lower your monthly payment.  Sign up for credit karma and credit sesame to verify who are your actual bill collectors and dispute if any. The actual credit score on these two sites can vary 20-40 points and don't fret the scores as much.  From my personal experience do not pay off cards while you are shopping.  My score dropped 40 points once paying off a card, thankfully I was not trying to refinance or looking for credit. Look for debt to be 42-43% of annual income because interest rate can be lowered.

 

Option two is a fifteen or twenty year mortgage which will lower interest rate.  However depending on your status of annual income this can be an advantage or disadvantage because the monthly payment will be higher. Adjustable rate mortgages will not work provided you reside in the home for long term.

 

Option three is to shop local first before exploring outside lenders.  Generally credit unions have great rates and a valuable resource.  You may receive mail from many lenders asking to refinance from time to time. Shop and compare and try not to have your credit pulled until you are highly satisfied with terms from lender that meet your needs. Many will offer no payment for ninety days and tack it on the end of the loan.  Ask about closing cost and lender fees if any.  A lender wanted my loan so bad it was a perfect storm came into place for me to refinance with no payments for ninety days, no lender fees and no tacking on and additional three months at the end of loan.

 

Option four is to watch the market/current affairs and know when to start the process and lock in lower rate.


Bookmark & Share



User Comments


Be the first to comment on this post below!


Popular tags on this blog

#Bassfishing | #breamfishing | #chainoflakes | #Freshwaterfishing | #sellingfeatures | #sellingmyhome | #smarthome | #tipsonsellinghome | buying a home | credit score | facebook kevin sells florida | fitness | Helping Veterans | Homeowners Associations | interest rates | kitchens | luxury home | Military Homes For Sale Florida | new construction | new home | Seller Market | Selling My Home | smart home | Veterans | www.kevinstrawtersellsflorida.com |

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: | Stellar MLS (updated 10/20/199:00 AM)
Featured Listings
Orlando Real Estate
$858,905
4 BED
4.5 BATH
Under Construction. Experience the beautiful and carefree lifestyle in the private gated community of Dellagio. This bea... Read More
Orlando Real Estate
$399,000
4 BED
2.5 BATH
Adorable 4 bedroom 2.5 bathroom concrete block / stucco built home nestled in the highly sought after community of Diamo... Read More
Orlando Real Estate
$1,265,000
4 BED
4.5 BATH
Truly One of a KIND! Highly desired ''Robellini'' by Toll Brothers in Royal Cypress Preserve. Private Gated Community wi... Read More
Orlando Real Estate
$329,900
3 BED
2 BATH
TRULY A 3 BEDROOM!!!! Luxury lakeview Condo with Balcony located in exclusive Dr Phillips Gated Community. LOTS OF WINDO... Read More
Orlando Real Estate
$599,000
5 BED
3 BATH
Stunning home located in the much sought-after community of Brentwood Club in Dr Phillips. This beautiful residence sits... Read More
Orlando Real Estate
$825,000
4 BED
3 BATH
Price improved. Desirable. Calming. Upgraded home. This home has a fresh new look with the character you''ve been waitin... Read More
Orlando Real Estate
$549,003
5 BED
4 BATH
FINANCING FELL THROUGH! PRICED BELOW MARKET VALUE. Take advantage of a recent PRICE ADJUSTMENT and grab this custom-buil... Read More
Orlando Real Estate
$329,900
4 BED
2 BATH
Lovely 4 bedroom, 2 bathroom ranch style home with pool in Orlando neighborhood with no HOA. Home is updated with fresh... Read More
Orlando Real Estate
$389,900
4 BED
3.5 BATH
Do not miss out on this IMACCULATE Dr.Phillips home!! This turn-key home is located in the heart of all that Central Fl... Read More
Orlando Real Estate
$549,900
6 BED
3.5 BATH
LARGE UPGRADED POOL HOME! This 6 Bedroom, 3.5 Bath Home is 4, 290 Square Feet on an Oversized PREMIUM CORNER LOT with ... Read More
Contact Kevin Strawter

407 479-8583

Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
14832 Speer Lake Drive
Winter Garden, FL 34787

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2011 -2019 drphillips.info - all rights reserved. | Site Map | Refinancing