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

Listing Search

Refinancing 32819 | 32836 | Wendy Morris Realty

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

REFINANCE

Provided you have a much higher interest rate than the current market "consider these four options" when it comes to refinancing.

OPTION ONE

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

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 

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 

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 | #centralflorida | #chainoflakes | #conservationlots | #creditscore | #curbappeal | #customhome | #disney | #drphillips | #events | #floridarealtor | #gatedcommunity | #golfcourse | #golfcourselessons | #homebuying | #homeinspection | #lifestyleliving | #mortgagefreehome | #sellmyhome | #smarthome | #themeparks | #VALOAN | #VAREP | #veterans | buying a home |

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 12/3/20 11:46 PM)
Featured Listings
Orlando Real Estate
$750,000
3 BED
3.5 BATH
3 bed (en-suite) plus office TOTAL OF 4 FULL ROOMS- Enjoy the Bay Hill lifestyle in this completely renovated home with ... Read More
Orlando Real Estate
$925,000
4 BED
4 BATH
Best priced Golf course home in Bay Hill! - and for the first time ever, this one-of-a-kind, custom home built in the ... Read More
Orlando Real Estate
$1,150,000
7 BED
5 BATH
Motivated Seller, Fully furnished. Welcome to Parkside''s Former Model Home! Nestled in the Heart of Dr. Phillips, thi... Read More
Orlando Real Estate
$445,000
3 BED
2 BATH
Beautiful *MOVE-IN-READY* POOL HOME IN DR PHILLIPS! Located in the highly desirable Sand Lake Point community this home ... Read More
Orlando Real Estate
$525,000
3 BED
2.5 BATH
****NEW KITCHEN CABINETS, ***COUNTERTOPS, AND ***APPLIANCES. RENOVATED VILLA IN Bay Hill Village, a gated, quiet, ... Read More
Orlando Real Estate
$474,990
5 BED
3 BATH
One Owner and Meticulously Maintained POOL Home in the heart of Dr. Phillips in the Highly Desirable Community of Sand L... Read More
Orlando Real Estate
$1,289,000
5 BED
5 BATH
LOOK NO FURTHER!!! THIS ABSOLUTELY STUNNING LAKEFRONT HOME LOCATED ON THE MOST COVETED SPOT ON BIG SAND LAKE WITH A PRIV... Read More
Orlando Real Estate
$414,900
3 BED
2.5 BATH
Beautifully renovated corner unit. Located in Somerset Shores, a gated community of only 46 town homes, in the heart o... Read More
Orlando Real Estate
$779,990
5 BED
4 BATH
Under Construction. This new home for sale in Dr. Phillips delivers 5 bedrooms and 4 baths in 3, 148 sqft of exceptional... Read More
Orlando Real Estate
$764,990
5 BED
4 BATH
Under Construction. This beautiful lakefront 5-bedroom, 4-bath home delivers 3, 148 sqft of exceptional space. Upon ent... 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 -2020 drphillips.info - all rights reserved. | Site Map | Refinancing 32819 | 32836 | Wendy Morris Realty