Tips Mortgage Companies Dont Want You To Know

Tips Mortgage Companies Dont Want You To Know 1

Tips Mortgage Companies Don't Want you​ to​ Know!
Mortgage brokers have a​ huge advantage when you​ are applying for a​ loan,​ this is​ because mortgages are their life .​
They know everything about mortgages and so can make a​ lot of​ money due to​ your lack of​ knowledge.
Mortgage brokers know all about the​ wholesale interest rates that you​ will qualify for,​ and are able to​ add on​ as​ much commission as​ they want,​ just to​ make some extra money .​
Mortgage brokers don’t want you​ to​ know that there are certain tips to​ help avoid paying the​ full price of​ the​ interest rate that the​ broker gives you​ at​ first.
Here are a​ couple of​ tips that should be able to​ help you​ to​ avoid paying the​ full price of​ your refinance loan.
Before you​ look into refinancing your loan,​ you​ should first check your credit rating .​
Your credit rating is​ what lenders will look at​ in​ order to​ assess how risky you​ are.
You should request copies of​ your credit report from all of​ the​ credit agencies,​ then you​ should carefully study all of​ these documents and try to​ spot any errors .​
There are three credit reporting companies that are responsible for maintaining your credit records,​ because there are three different companies that manage the​ credit reports,​ it​ is​ very easy for them to​ develop errors.
Any errors in​ your credit record will negatively impact on​ your credit score,​ and so will mean that errors will cost you​ much more money in​ interest charges .​
By ridding yourself of​ errors,​ you​ should be able to​ get much better interest rates,​ and so save yourself much more money.
The best way to​ improve your credit score,​ is​ simply by paying all of​ your bills on​ time .​
If you​ don’t already make all the​ payments on​ time,​ you​ should start making them on​ time and then wait for at​ least six months before you​ apply for a​ new refinance loan .​
For more info see on​ refinance mortgage interest rate
Make sure you​ stop using your credit cards as​ much as​ possible,​ by maintaining as​ low balances as​ possible you​ should be able to​ prevent getting poor credit .​
Also avoid taking out new credit cards as​ these can also impact on​ your credit worthiness.
Your mortgage company doesn’t want you​ to​ know about the​ mark up that they put onto the​ interest rate that you​ could really get the​ loan for .​
You are effectively paying for the​ services of​ a​ mortgage broker twice,​ once up front,​ and then every month for the​ life of​ the​ balance.
You should compare the​ rate that you​ are offered to​ the​ rates that you​ have received from other mortgage brokers,​ or​ companies.
By learning how to​ prevent yourself having to​ pay the​ mark up,​ you​ can save yourself a​ lot of​ money.

Tips Mortgage Companies Dont Want You To Know

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