Mortgage Refinance Advice
Are you shopping for a new South Carolina mortgage refinance? Maybe you are purchasing your first piece of SC real estate or just looking to refinance your newly adjustable rate mortgage into a fixed rate while rates are still low.
You have a plan…so now what do you do?
My advice is to call your SC mortgage professional that did your past loan, or if you were not happy with their performance then you ask your family and friends for a referral. This could be a challenge since so many loan officers have left the mortgage business due to the “easy pickens” days are over. The ones left are usually those SC mortgage professionals that are grounded from years of experience. Once you find a professional then you are in good shape to get the best mortgage program and rate possible.
For those that do not have a mortgage source to go to, most will call around and get mortgage rate quotes. This may not be a good idea for a couple of reasons.
First, you may get a quote that you really like, go with it and then find out that the loan officer that quoted the “really nice” rate can not perform or the quote will not work in the time frame needed.
Second, calling around and getting quotes does not work well in today’s environment. What do I mean? Because of the volatility in the market, lenders price rates in the morning, then depending on how the market is performing you can get a mortgage rate re-price. OK…so what? If you call my competitor at 10:00 a.m. and call me at 4:00 p.m. if the market has improved enough to warrant a mortgage re-price, I will beat out my competitor just due to the improvement in the market.
You need to be able to compare oranges to oranges. Over the past 4 weeks, SC mortgage rates have changed about every 4 hours. This makes it very challenging to shop for rates.
So back to my earlier point. Find a mortgage professional first, one that is established, has weathered the storm and understands the market, then stick with that professional. You will in the long run end up with the best program and rate for your new SC mortgage refinance.
If you contact us now we can give you a free no obligation rate quote for your specific needs. Its fast and easy. Just a 10 minutes conversation can let you know if the time is right for your South Carolina mortgage refinance. South Carolina Mortgage
Call 877-936-9440 and ask for Kevin Hayes
http://www.columbiamortgageguy.com
Article Source: http://EzineArticles.com/?expert=K_Hayes
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Tags: adjustable rate, adjustable rate mortgage, best mortgage, find a mortgage, loan officers, mortgage, mortgage rate, mortgage rate quotes, mortgage rates, mortgage refi, mortgage refinance, refinance