How do we choose who to refinance our home with?

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We have very good credit (my husband and I are each 750+), and need to refinance our home. When we purchased, my husband was newly self-employed and had to get a no-doc loan, so it isn’t a very good loan to have. There are so many radio commercials and other ads for mortgage refinancing. How do we pick one? We thought about the LendingTree.com or themortgagestore.net. Any advice?

4 Comments
  1. Reply
    penny p
    May 4, 2011 at 12:32 am

    No no no if you have an excellent credit score, and you do with those numbers than go shopping for a bank. call around and get quotes they need you more than you need them! 750 + is hard to find. Mort companies charge 5-7 thousand for closing costs. That is how they are paid. Banks are on salaries not commission. Average closing costs for bank are 2500.oo Save yourself some money and go to a local bank. And I mean shop talk to at least three locals! good luck ….Maine Realtor

  2. Reply
    tyneham
    May 4, 2011 at 1:22 am

    Compare rates, terms and conditions. Don’t rush.

  3. Reply
    src50
    May 4, 2011 at 1:52 am

    Stay away from internet brokers and look into local lenders.

  4. Reply
    alterfemego
    May 4, 2011 at 2:09 am

    The are more lenders than you can count! I would use someone you get a recommendation from. I wouldn’t use one that solicit business on this venue, as they are already breaking the rules by doing so, so what other rules/laws etc., would they break with your loan?

    Not all mortgage companies can operate in your state and you didn’t give us that information. So first I would talk with your local lenders to see what programs they offer.

    Then here is are several companies I have done business with:

    Premier Lending – Brian Mix (206) 274-4000
    TopDot Mortgage – Merissa Serna (800) 779-1239 X 118
    WCS Lending – Martin Wenzel (561) 864-2415

    I put them in order of my business relationship. I hope this is helpful!

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