Financing:
I refinanced my house 2 years ago and the rate is fixed for 3 years. Because I’m low income, I can’t really afford to have my payment fluctuate each month so I’d like to refinance again and get a fixed rate.
Last time, I had a broker find a loan for me but neither of us was completely happy with the company that did the loan. He’s no longer in the business so now I’m trying to figure out how to choose a company to do my refinance.
How do I figure out who to go with? Should I try Lending Tree or some other big name? Help!
***ANSWER:
As youve read in past e-newsletters, I prefer direct lenders over mortgage brokers. In my 22+ years in real estate, Ive known a handful of stellar mortgage brokers and way too many so-so ones.
And be sure the direct lender is one you know and trust, or someone strongly recommended by a real estate professional you know and trust.
If youd like the contact info on the lender I use, call me at (858)457-KENT.
BTW– Im not a big Lending Tree fan as its way too easy and common for lenders to quote you a low rate, get you to apply with them, then find a reason not to give you that low rate
