Q. Is there a "rule of thumb" as to when I should refinance?

A. Anytime interest rates are lower than what you are currently paying you should look at the alternatives of refinancing,  Small changes in interest rate differential can mean a large savings to you in monthly payments. The savings to you in refinancing can depend on other things besides just the interest rate picture.  Your tax requirements, your cash flow needs, etc. all figure in to the formula of financial needs.  It cost you nothing but a little time to have your present loan compared to a new refinanced loan.  We are here to help you make the most intelligent decision.  Our rule of thumb is "investigate before you invest".

Q. How do I determine if rates are low enough for me to refinance?

A. Your individual needs are just as important as the current interest rates. Everyone's needs are different.   You have to look at the whole picture.  You should call a professional lender and discuss your individual needs.  Your current financial status and future goals should be discussed.  Do you want to lower your payments? Get cash out for personal needs or desires?  Do you want to consolidate your debts for more monthly cash flow?  Are you aware of the tax consequences from changes of interest paid out?  As you can see there are as many different answers as there are individual needs and desires.    We will examine your particular situation and offer you different approaches to your own personal needs.  Then and only then, will you be able to make an intelligent decision of whether refinancing is for you.  In other words we help you do your "homework".

Q. Are there a lot of cost involved in refinancing?

A. The cost are very similar to the cost you encountered when you made your original loan.  However, if you don't have the funds to pay the cost of the refinanced loan there are zero cost loans available.  In the case of the zero cost loans there is a  higher interest rate charge which could make it not  feasible for you to refinance.  As the saying goes "there is no such thing as a free lunch".  Let us work up your loan figures for you so you can make the right decision.

Q. How do I determine which lender is the best for me?

A. The best thing to do is compare your experiences after talking to several lenders.  Chose the one that is genuinely interested in your individual needs.  You will be able to feel the difference between a "spin doctor" and a "professional loan consultant".  You will have compared rates and costs enough to know whether your being treated fairly.  We take great pride in our professional approach to every facet of the loan process.  We would like to offer our consultation services to you at no cost so you can compare us to others.  

Q. If I have some dings on my credit will that make me ineligible or have to pay a lot higher interest rate.

A. If you are concerned about your credit you should not let this stop you from investigating the possibilities of refinancing.   For example, we use a source for loans through an institution that is both a mortgage lender and mortgage broker.  Therefore we can in many cases obtain the loan for you when companies without this relationship can not.  However,  your credit history will determine the interest rate you pay.  The higher interest rate again will have to be examined to determine if refinancing is feasible.  We offer this service at no charge to you and will help you in your decision making process.