Home Mortgage Loan Refinancing Online - 3 Tips on Refinancing Your Home -

Home
>
Mortgage Refinance
>
Home Mortgage Loan Refinancing Online - 3 Tips on Refinancing Your Home

Home Mortgage Loan Refinancing Online - 3 Tips on Refinancing Your Home

When refinancing your home, it's helpful to know a few things about refinancing. When you refinance, you usually pay off the old loan and sign for a new loan, whether you are refinancing your 1st mortgage, second mortgage or home equity loan. The expense that comes in to play when refinancing are the new closing costs and points charge for getting a new loan.

How much can you expect in closing costs for a refinance? Usually between 3-6% of the total loan amount. So, for a loan amount of $150,000, you can expect to pay around $7 in fees. Usually, a company that will say that have no closing costs, will also charge a higher interest rate to compensate. The mortgage broker has to make money somehow, they will either charge a higher interest rate or charge higher closing costs. The best way to compare refinance lenders is to analyze all of the expenses.

Should I pay down points on my loan? If you plan to stay in your home for more than 3 years, it may be smart for you to consider paying down points on the loan which reduces your interest rate. That pays off if you plan to stay in your home for a while, but if you plan to sell the home soon, you may lose more money paying down the points on the loan.

How can I know if I should refinance or not? If you are interested in finding out whether it would save you money in the long run to refinance with the current interest rate, there are financial calculators online that can help you determine if you would save money refinancing your house or not.

To view our list of recommended refinance mortgage companies online or to use a refi- calculator, please visit this page: Recommended Refinance Lenders & Mortgage Calculators Online.

Carrie Reeder is the owner of ABC Loan Guide, an informational website about various types of loans.

In The News:

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5g9k5ci5oSKGrWzjygJuIimhNkUogD93PQTQO1cid=1257390724ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNHHLT4-3Lo28nGghEH-CkBkcQNaSgimg src=http://news.google.com/news?imgefp=rg91VCFAogIJimgurl=ap.google.com/media/ALeqM5gpX63yahj3YRzCM06eIA-R42iyEA width=80 height=53 alt= border=1brfont size=-2The Associated Press/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://ap.google.com/article/ALeqM5g9k5ci5oSKGrWzjygJuIimhNkUogD93PQTQO1cid=1257390724ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNHHLT4-3Lo28nGghEH-CkBkcQNaSgOfficials: Financial crisis can lead to violence/abrfont size=-1font color=#6f6f6fThe Associated Pressnbsp;-/font nobr13 hours ago/nobr/fontbrfont size=-1She tried to brefinance/b but was declined. In July, on the day the house was to be auctioned, she faxed the note to the bmortgage/b company. b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.chicagotribune.com/business/chi-upside-down-mortgage-monoct13,0,2329863.storycid=1257260377ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNHp66K5BTfG7n9TGrSPjnSgBkEz4AbMortgage/b crisis has turned homeownership upside down/abrfont size=-1font color=#6f6f6fChicago Tribune,nbsp;United Statesnbsp;-/font nobr21 hours ago/nobr/fontbrfont size=-1quot;If you have some kind of disruption to your income and you can#39;t make your bmortgage/b payment, it#39;s going to be very hard for you to brefinance/b or anything b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://sify.com/finance/fullstory.php%3Fid%3D14772811cid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNG9ljlEHzSBUA_qGhNcZZ7fuMkaXgimg src=http://news.google.com/news?imgefp=4zc7cQtrRSgJimgurl=im.sify.com/sifycmsimg/oct2008/Finance/14771912_executives_200.jpg width=80 height=62 alt= border=1brfont size=-2Sify/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.theglobeandmail.com/servlet/story/LAC.20081013.RBANKSEXPLAINER13/TPStory/Businesscid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNGNDbMxQvMPBHn_DKz-Fes4hBaBCQFrom subprime to stock swoon/abrfont size=-1font color=#6f6f6fGlobe and Mail,nbsp;Canadanbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1Borrowers were led to believe that they would be able to brefinance/b their homes at this point because the value of the property would have increased. b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/11/AR2008101100149.htmlcid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNEMoX-_7595DdvFqqzmqcZ0HXfZ9gARM Holders Would Do Well to Shop Around Now/a font size=-1 color=#6f6f6fnobrWashington Post/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.istockanalyst.com/article/viewiStockNews%2Barticleid_2699695.htmlcid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNEuyzC-_Fy_FlJhJzam5FctFnjhyAEDITORIAL: Let Bailout Money Trickle Up, Not Down/a font size=-1 color=#6f6f6fnobristockAnalyst.com (press release)/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.zwire.com/site/news.cfm%3Fnewsid%3D20161858%26BRD%3D1675%26PAG%3D461%26dept_id%3D18168%26rfi%3D6cid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNE6QMNQadPrBi46ui7qmL3aeiytLwLetter: Economic trauma can#39;t be excused/a font size=-1 color=#6f6f6fnobrThe Delaware County Times/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.tallahassee.com/article/20081008/OPINION05/810080303/1006/OPINIONcid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNFBofPlUdRLp9QIehOvBOlLLke6cAnobrTallahassee Democrat/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.twincities.com/ci_10650793%3Fsource%3Dmost_emailedcid=1255977840ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNHB90m-H5zaldUiLVYZIaNxITicOwnobrPioneer Press/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255977840hl=ennobrall 244 news articles/nobr/a/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.sbwire.com/news/view/22363cid=0ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNHEetV8ZavENFcGm_9ke_I21Z5jtAThe Truth About bMortgage Refinancing/b Revealed By Oregon bMortgage/b b.../b/abrfont size=-1font color=#6f6f6fSBWire (press release),nbsp;WInbsp;-/font nobrOct 8, 2008/nobr/fontbrfont size=-1The site is designed to give Oregon residents all the facts about bmortgage refinancing/b so they can make an educated decision when obtaining a bmortgage/b. b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/news/printedition/longisland/ny-livoice135881819oct13,0,6929750.storycid=1257173810ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNGCX_O0AyWeDxls4ixlfClycY4ZGwFreeport family battered by struggling economy/abrfont size=-1font color=#6f6f6fNewsday,nbsp;NYnbsp;-/font nobrOct 13, 2008/nobr/fontbrfont size=-1Joan Fennell said her bmortgage/b broker quot;promisedquot; verbally she could brefinance/b again within the year into a fixed-rate loan and she assumed she#39;d earn enough b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.bloomberg.com/apps/news%3Fpid%3D20601070%26sid%3DagoIVK3xOols%26refer%3Dhomecid=1257615421ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNFePZ4GVfSlgWrZozUdQhh7Tl70XgMcCain, Obama Promoting Populist Appeals on Wall Street Rescue/abrfont size=-1font color=#6f6f6fBloombergnbsp;-/font nobr5 hours ago/nobr/fontbrfont size=-1The Democrat is focused on recapitalizing banks while halting foreclosures and creating new jobs, while the Republican wants to purchase and brefinance/b b.../b/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd width=80 align=center valign=topfont style=font-size:85%;font-family:arial,sans-serifa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.brisbanetimes.com.au/news/world/mccain-proposes-300b-mortgage-buyout/2008/10/08/1223145420040.htmlcid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNGiOhsQDDF-yxXsRsKioVyGQm-aiwimg src=http://news.google.com/news?imgefp=jcJP5nTES5oJimgurl=www.brisbanetimes.com.au/ffximage/2008/10/08/mccain_wideweb__470x303,0.jpg width=80 height=52 alt= border=1brfont size=-2Brisbane Times/font/a/font/tdtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.sfgate.com/cgi-bin/article.cgi%3Ff%3D/c/a/2008/10/09/BU9B13DNI7.DTLcid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNFF_5M_JFIYffh-SWxSbiqyJJRt-gMcCain campaign outlines bmortgage/b-rescue plan/abrfont size=-1font color=#6f6f6fSan Francisco Chronicle,nbsp; USAnbsp;-/font nobrOct 9, 2008/nobr/fontbrfont size=-1Barack Obama, McCain#39;s Democratic rival, has proposed helping troubled homeowners brefinance/b their mortgages, but his campaign attacked McCain#39;s proposal for b.../b/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.youtube.com/watch%3Fv%3DBAdIBCGcEo8cid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNFgA7iVlFANl7zGjswuCdsdrTgVigVideo: Obama: #39;Taxpayers Shouldn#39;t Pick Up Tab#39;/a font size=-1 color=#6f6f6fnobrAssociatedPress/nobr/fontobject width=448 height=356param name=movie value=http://www.youtube.com/v/BAdIBCGcEo8/paramparam name=wmode value=transparent/paramembed src=http://www.youtube.com/v/BAdIBCGcEo8type=application/x-shockwave-flashwmode=transparentwidth=448height=356/embed/objectbr/fontfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.nytimes.com/2008/10/09/us/politics/09mortgage.html%3Fref%3Dbusinesscid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNHP_dqNYY0SyFnbcI43CudUt8ksjATaxpayers, Not Lenders, Would Bear Costs of McCain’s bMortgage/b Proposal/a font size=-1 color=#6f6f6fnobrNew York Times/nobr/font/fontbrfont size=-1a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://blogs.wsj.com/deals/2008/10/08/mccains-300-billion-mortgage-plan-better-than-the-700-billion-rescue/%3Fmod%3Dgooglenews_wsjcid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNGXL8H-ueJ2RuQTYiqhUy1LuTztBQMcCain’s $300 Billion bMortgage/b Plan: Better Than the $700 Billion b.../b/a font size=-1 color=#6f6f6fnobrWall Street Journal Blogs/nobr/font/fontbrfont size=-1 class=pa href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.newsday.com/news/nationworld/nation/ny-usmort095875394oct09,0,1162571.storycid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNF727RDf1v-VhtoXMj-BjvKtsubGAnobrNewsday/nobr/anbsp;- a href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www2.journalnow.com/content/2008/oct/11/principal-is-key-to-housing-solution/cid=1255319735ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNGJ-FhXxfV0RjnNjL4HS2TPupQV-AnobrWinston-Salem Journal/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?sourceid=navclientie=ISO-8859-1rls=GGLG,GGLG:2005-22,GGLG:enncl=1255319735hl=ennobrall 816 news articles/nobr/a/font/div/font/td/tr/table

table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://www.citywebshopper.net/articles/includes/redirect.php?url=http://www.prweb.com/releases/2008/10/prweb1468384.htmcid=1257614373ei=UW_0SK3eMo_u6gOs9eybDQusg=AFQjCNH5hLksPj0a_5RZnakGb0fSrI_kHwFHA Loan Adviser Connects Lenders with Homeowners/abrfont size=-1font color=#6f6f6fPR Web (press release),nbsp;WAnbsp;-/font nobr59 minutes ago/nobr/fontbrfont size=-1Under the new program, certain borrowers will be eligible to brefinance/b into an affordable FHA-insured bMortgage/b. FHA will insure up to $300 billion in new b.../b/font/div/font/td/tr/table

mortgage refinance - Google News

Home Mortgage Loan Refinancing Online - 3 Tips on Refinancing Your Home

Mortgage Refinance