What is the best way to refinance a house?

Audrie
refinance a house?

Alice
I'd talk to a reputable mortgage broker. No, don't listen to ads, and definitely ignore anyone sending you junk mail. Talk to your friends or coworkers to get some referrals. Another source is to talk to realtors in your area and see if they have recommendations (they always do.)Mortgage brokers can shop around for a variety of different mortgages at a variety of lenders. They'll have the most up to date information about what's available, as well as what banks are going to be most receptive to your particular situation. They usually know the underwriters at the various banks which helps to ensure that your application process goes quickly and smoothly.Once you agree upon a program, the broker will give you a list of documentation you'll need to provide (income statements, etc, etc) and help arrange any other things you may need, such as an appraisal. He'll fill out your application and deal with the underwriter at the bank. Remember, it's federal law that everything about the loan you are applying for is disclosed to you. Again, a reputable broker will know all of this. You should know everything from how much the broker will make, to what each of your payments will be for the life of the mortgage.Then all you really have to do is just show up and sign the final copies of everything. That's about it. Remember, the broker gets a commission from the bank - you shouldn't have to pay them. In this way, the broker is motivated to get you a good loan, and build up a relationship with the banks by giving them good borrowers - none of this sub-prime garbage.

Arleen
refinancing is costly! if your not trying to pull out money and are just looking to lower your rate, ever think of a loan modification? it does what a refi does with out the closing costs and appraisel fee's! email me if you want more info ill tell you who did mine.

Fonda
Know that your credit reports are clean in advance, know your credit score. Save money for the closing costs. Shop for the best rate you can get with the lowest closing costs. Only refinance into a fixed rate mortgage if you can help it.see:www.bankrate.com

Keeley
there is no "best way" right now - it's hard to get a loan under the best of circumstances...best to wait until this mortgage crisis settles down.

Adrian
80% loan to value conventional loan for 15 years. The lowest interest rate, the lowest costs..

Delores
Get into an FHA loan. An FHA loan. lol