Monster10 presents... Top 10 Questions You Need To Ask Before Refinancing Your Mortgage!

 
 

Top 10 Questions You Need To Ask Before Refinancing Your Mortgage!

 
 

Top 10 Questions You Need To Ask Before Refinancing Your Mortgage!

               

A Monster 10 Report!

Are you thinking of refinancing your home well there is some important questions you need to ask yourself before doing so! Find out in this monster 10 report the 10 most important questions to think about before you refinance! 

               

        

 

 

10- Are You Contemplating Paying Of Credit Card Debts!

       “Paying off credit cards is always a good idea but should be approached with caution if you are using a home mortgage refinance to do that.  It’s important to be sure that the cost of the refinance is one you can handle and the cost benefit is actually a good one..…………..!

 

 

 

 9- Do You Have Cash To Pay Down On Your Loan!

 “Lending practices are much different and banks are making it harder to get loans what is going on in this new credit environment in order to obtain financing people are bringing cash to the refinance table... ...…………....…..!

 

 

 

8- How High Is Your Credit Score!

 “Lenders now require a 720 or higher for a refinance anything under your chances become slim to none....………….. ..…..!

 

 

 

7- Do You Have Cash Equity In Your Home !

For lenders you need at least 20% of liquid cash equity based on an appraisal to avoid PMI when obtaining a loan refinance. ....... ....……..!

 

 

 

6- What Are The Terms Of Your Current Mortgage!

 “Before looking to obtain a refinance it is imperative to know the terms of your existing mortgage it could have a significant impact on obtaining a refinance ........…..!

 

 

 

5- Are You Looking To Do Any Home Improvements!

 “Home improvements to replace worn out fixtures, roof etc is a legitimate reason for a refinance however if you are looking just to get a refinance for aesthetic home improvements than you must way the cost to be sure its worth doing..…………. ..…..!

 

 

 

4- Do You Have A Second Mortgage Or Existing Line Of Credit!

“If you have an existing line of credit or mortgage this could have significant consequences for you obtaining a refinance.  In many cases lenders may deny you.....………….. ..…..!

 

 

3- Are You Close To Retirement Age!

 “Unless your mortgage is an adjustable mortgage you should not consider changing your mortgage terms.  As you get closer to retirement age putting resources to sustain your living should take precedence.” …………..!

 

 

2- Do You Know The Percentage Cost Of A Refinance!

       “A refinance in todays credit environment can cost between 3-6% of the loan which is a hefty sum be sure to take this into consideration when contemplating a refinance......………..!.

 

 

And The Number 1 Question You Need To Ask Before Doing A Refinance Is…………..

 

 

Monster Growl Please…………………………….

 

 

1-    1-How Long Do You Plan To Live In The Home!

       “DING DING DING!!! The most important question to ask yourself before contemplating a refinance is this home the home you are going to spend the rest of your life in.  If not than a refinance may not be a good option …………..!

GRRROOOOOOAAAAAR

   
 



 

   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
   
 
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