Free Mortgage Refinancing Information

The first thing you should do is make sure your credit is in order. Request a free credit report from each of the credit bureaus and check the reports for accuracy. If you find mistakes on these credit reports you will need to dispute the errors.

You can improve your credit score by paying down the balances on your credit cards and closing the accounts. If you have credit cards that you dont need close them.

Make sure you are paying your bills on time and have at least six months of on time payments. Mortgage lenders look at your repayment history as part of determining how much of a risk you are. Paying your credit card balances down and making the payments on time is a simple step you can take to improve your credit score.

Another thing you can do to improve your situation prior to refinancing is save some money. If you have a savings account and can squirrel some cash away it will help your overall creditworthiness. You might consider cleaning out the garage or attic and selling items on eBay to raise some cash.

After you have your credit in order you need to do your homework and research mortgage companies and interest rates. Comparison shopping is easy using the Internet as a tool. When shopping for a mortgage it is important to compare loans of similar term length and use the published Annual Percentage Rate to compare fees.

Before you begin comparing loan offers you need to learn how mortgages work and what the terminology means. A free mortgage guide can bring you up to speed on the mortgage industry and the lingo. By doing your homework first you will be able to recognize a good deal and steer clear of the bad ones.

Louie Latour has twenty years of experience in the mortgage industry as a mortgage broker.

He is the owner of Mortgages Refinance Advisor, a mortgage help site devoted to saving homeowners money with a free guidebook Mortgage Refinance: What You Need to Know.

See Also:

Mortgage Glossary - A Glossary of Mortgage Terms You Should Know
Acceleration Clause A clause in a mortgage defining that the entire outstanding balance can become due and payable should mortgage default occur. If the entire balance is not paid, the property will be foreclosed.Adjustable Rate Mortgage (ARM) Mortgage with interest rates that may be adjusted by ... more...

Online Mortgage in UK - Introducing the Best Mortgage Plan Across UK
Add the term online and it will open for you an exhaustive assortment of opportunities. Add online to mortgage and it will have the same effect. So many people want to get mortgage programme and get with it fast. The online mortgage in UK indisputably takes lesser time and simplifies the entire ... more...

Types of Loans
Loan Types What types of loans are available to me? There are many different types of mortgage offered to consumers. Some of the most popular mortgage broker are the FHA Home Loan (Federal Housing Administration) and the VA Loan . Because the FHA mortgage and VA mortgage are guaranteed by the ... more...

Lowest Mortgage Rates UK Lowering the Cost of Mortgage
Mortgage is the most widespread industry that offered to loan borrowers with real estate as collateral. Mortgage has so many innovations and opportunities that a loan borrower can exploit them for their own benefit. You must have heard and read it elsewhere that mortgage rates are at an all time ... more...