I am no different than any other home owner who wants the best rate available. I find myself going to such websites as Bankrate.com to check the daily mortgage rates, knowing full well that if I picked up the phone and called one of those lenders, I probably would not be offered the rate I see on my monitor. It could be higher. But it's like confirmation that I'm choosing the best mortgage broker, and that kind of behavior makes me want to shoot myself in the head.
What would I save going to another broker? If anything, maybe $5 a month. I like my rate; I like my mortgage broker, so I have to tell myself to stop letting my fingers do the typing. Ack. But I do understand what my clients go through.
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Technorati tag: refinance
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.
Comments
great post
We are buying this year and excited about the low rates. We are also the check every day types. It was hard the last couple of years to watch countless friends and family buy new homes. Now it is unfortunate to watch many loose those same homes.
While I am happy we decided to wait until we could really afford a new home without “creative” financing. It is also sad to see so many who got caught up and are loosing their homes. I hope banks allow more people to refi so that they can keep their homes.
This is great advice for areas that are still equal or above their remaining mortgage costs, but there are many areas that have plummeted when it comes to property values and the advice of real estate agents and an enrolled agent may be needed to figure a way to refinance on an upside down mortgage. When the remaining balance of the home is less than the amount owed, many homeowners are not able to take advantage of the lower rates.