0
Make sure you can actually afford the payments. Take a traditional 30 year loan,this way your interest rate stays the same. Rates are great right now. Also make sure you can put down 20% or you will be stuck paying PMI (property mortgage insurance) for at least the next 7 years or until you reach 20%. I would also try to get a loan from a bank name you are familiar with. When you find a good rate,make sure to lock in the rate.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What should one know before they refinance a home?
Before a homeowner refinances a home, they should consider how much less a mortgage payment will be after a refinance. They should also consider the differences between a fixed rate mortgage and an ARM mortgage rate. These factors can dictate how long it will take to repay a mortgage.
How can I refinance mortgage rates?
Refinancing your mortgage rate depends on a lot of different factors including your credit and the value of your home. In order to negotiate for the best terms you should have a clear view of what your home is worth and you should consider consulting a professional.
How many mortgage quotes should one obtain before taking out a mortgage?
Taking out a mortgage to purchase a home or business is a major life decision. This year the average value of the home rose for the first time in many years. There are many factors a buyer should consider when thinking about a mortgage quote. Several sources of mortgage quotes should be considered. Many suggest going to a bank you already bank with so that relationship with the bank can help you positively.
What are some important factors to compare when shopping for cellular plans?
When shopping for cellular plans, it is important to know how much minutes you are getting per phone. Also, you should consider whether the fees will increase towards the end of the plan.
What factors should you consider when cutting wet and dry hair?
what factors do you need to consider when cutting hair
From the following choices select the factors you should consider to understand the threat in your environment?
From the following choices, select the factors you should consider to understand the threat in your environment.
From the following choices select the factors you should consider to understand the threat in your environment.?
From the following choices, select the factors you should consider to understand the threat in your environment.
What should you consider when getting a commercial mortgage quote?
When considering getting a commercial mortgage quote, you should be sure to look for the amortization period, the interest rate, and the rate you would be paying.
What are the factors to consider in locating a government refinery?
There are so many factors to consider in locating a government refinery. You should consider the risks involved and the people that it will affect. The location should also be accessible by road.
What should you consider when shopping for Chevrolet rims?
You should consider the brand you want and if that brand is suitable for your Chevrolet, which size to buy and which size is available for the model you own. You should also consider which price is suitable for your budget.
What factors should one consider while deciding the best time to refinance a mortgage?
One very important factor to consider is the current interest rate. Refinancing can be a great way to obtain a lower rate, but can cost substantially more in the long run if the rates are higher.
How accurate is the BBC's mortgage calculator?
The BBC's mortgage calculator only provides an estimate of what your mortgage should be depending on the data you feed into it. There may be other factors which need to be taken into consideration before the actual mortgage is calculated.
