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David Faulkner
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Article Title: Tips Mortgage Companies Don't Want You To Know!
Author: David Faulkner
Word Count: 528
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Mortgage brokers have a huge advantage when you are applying for a loan, this is because mortgages are their life. They know everything about mortgages and so can make a lot of money due to your lack of knowledge.
Mortgage brokers know all about the wholesale interest rates that you will qualify for, and are able to add on as much commission as they want, just to make some extra money. Mortgage brokers don�t want you to know that there are certain tips to help avoid paying the full price of the interest rate that the broker gives you at first.
Here are a couple of tips that should be able to help you to avoid paying the full price of your refinance loan.
Before you look into refinancing your loan, you should first check your credit rating. Your credit rating is what lenders will look at in order to assess how risky you are.
You should request copies of your credit report from all of the credit agencies, then you should carefully study all of these documents and try to spot any errors. There are three credit reporting companies that are responsible for maintaining your credit records, because there are three different companies that manage the credit reports, it is very easy for them to develop errors.
Any errors in your credit record will negatively impact on your credit score, and so will mean that errors will cost you much more money in interest charges. By ridding yourself of errors, you should be able to get much better interest rates, and so save yourself much more money.
The best way to improve your credit score, is simply by paying all of your bills on time. If you don�t already make all the payments on time, you should start making them on time and then wait for at least six months before you apply for a new refinance loan. For more info see
http://www.mortgagerefinanceloanhelp.com/Process_to_Refinance_Your_Mortgage_Interest_Rate/ on refinance mortgage interest rate
Make sure you stop using your credit cards as much as possible, by maintaining as low balances as possible you should be able to prevent getting poor credit. Also avoid taking out new credit cards as these can also impact on your credit worthiness.
Your mortgage company doesn�t want you to know about the mark up that they put onto the interest rate that you could really get the loan for. You are effectively paying for the services of a mortgage broker twice, once up front, and then every month for the life of the balance.
You should compare the rate that you are offered to the rates that you have received from other mortgage brokers, or companies.
By learning how to prevent yourself having to pay the mark up, you can save yourself a lot of money.
About The Author: You can also find more info on
http://www.mortgagerefinanceloanhelp.com/If_You_are_Swimming_in_Debt/ on debt refinance and
http://www.mortgagerefinanceloanhelp.com/If_you_are_Considering_a_House_Refinance/ on home refinance.
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