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Mortgage Refinancing With a Wholesale Interest Rate
By Louie Latour

Did you know it is possible to refinance your mortgage at wholesale interest rates? Paying retail markup of your mortgage interest rate is completely unnecessary; however, most homeowners donít even question paying the higher mortgage rate. Here are several tips to help you keep the mortgage rate you deserve when refinancing your home mortgage loan.

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If youíre looking to refinance your mortgage with a wholesale mortgage rate, the first thing you need to do is avoid your bank completely. Banks will never give you the mortgage rate you deserve because they mark that rate up to make a profit selling your loan to investors on the secondary market. When a bank marks up your mortgage rate to a higher than market interest rate, the markup is called Service Release Premium.

Secondly, in order to qualify for a wholesale mortgage rate youíll need to avoid mortgage companies and brokers that include Yield Spread Premium in their rate quotes. Yield Spread Premium is very similar to the Service Release Premium charged by a bank; however, in this case your mortgage rate is marked up for a bonus from the wholesale lender behind the loan. Most mortgage companies and brokers do this without telling you and disclosure is buried deep in your loan paperwork.

Fortunately, homeowners who learn to recognize Yield Spread Premium can avoid paying it and qualify for wholesale mortgage rates. When comparison shopping for a mortgage company or broker you can negotiate for a lower rate by telling the loan representative that you understand how Yield Spread Premium works and will not tolerate it with your mortgage. Negotiate to pay a reasonable origination fee for their services, not more than one percent, and any necessary third party settlement costs. Any honest mortgage company or broker would agree to these terms.

You can learn more about refinancing while avoiding costly mistakes with a free mortgage tutorial.

To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this free video tutorial: "Mortgage Refinance - What You Need to Know," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com.

Get your free mortgage refinancing tutorial today at: http://www.refiadvisor.com


Cash Out Mortgage Refinancing Basics
By Louie Latour

Eliminating debt can be a difficult task for any homeowner. Depending on the amount of debt youíve accumulated it can take many years to pay off. There are a number of debt elimination strategies that take advantage of tax deductible nature of your home equity. Here are several tips to help you decide if cash out mortgage refinancing is right for you.

Mortgage Refinancing Basics

Mortgage refinancing is a simple concept; you are taking out a new mortgage to pay off the balance of your old loan. The process is nearly identical to what you went through applying for your original loan. You need to find a mortgage lender, fill out an application, provide documentation, wait for approval, and close on the new mortgage. If there is equity in your home you have the option of cash out refinancing. With cash out refinancing you are simply borrowing more with the new loan than you owe on your old mortgage. The difference between what you borrow and what you owe is paid to you at closing.

Cash Out Refinancing Risks

There are risks associated with cash out mortgage refinancing. Because you are borrowing a larger amount your will probably be required to pay a higher mortgage rate. You are also giving up equity in your home and if property values decline you could end up owing more than your home is worth. You can learn more about your mortgage refinancing options, including costly mistakes to avoid with a free mortgage video tutorial.

To get your FREE six-part Mortgage Refinancing Tutorial, visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this free video tutorial: "Mortgage Refinance - What You Need to Know," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com.

Get your free mortgage refinancing tutorial today at: http://www.refiadvisor.com


 

 

 

 

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