What Goals Should A Borrower Set?

Posted Jul 30, 2009 @ 8:28 am, Viewed by 170 Visitors, Read 173 Times.

Mortgage rates have been very up and down lately which makes prediciting what rates will do even harder than it was before.  A prepared borrower wil have a goal in mind going into their refinance.  It may be wanting a certian rate, or maybe saving a certain amount of money every month.  If your goal is to save $150.00 a month, and thats attainable today, grab it.  If your goal is getting a rate of 5% with no points, if its there take it and run.  Maybe your goal is to pull a certain amount of cash out, and keep your payment at a certain number, take it if the deal is there.  Whatever the goal, when its attainable, grab it.  The people who get too greedy and want to get just a little more savings, or just a little lower rate or just a little more cash withouth effecting their payment are usually the ones who lose the deal they wanted in the first place.  My advice to all borrowers is go into your refinance transaction with a specific goal in mind, those with too vague a goal or no goal at all end up losing in the long run.  When your goal is attainable, take advantage of it.

 

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joshp975

joshp975 I've lived in the DC metro area my entire life; growing up in Montgomery County Maryland and attending the University of Maryland.  I now live in Arlington, Virginia.  Living all around the DC area has given me a great understanding of the real estate market.  After graduating from the University of Maryland, I worked as a loan officer in Gaithersburg for three years.  I then opened my own mortgage brokerage company, which I ran and operated successfully for several years before agreeing to a buyout by my partner.  Now, I have found a home at Choice Finance where I am able to grow professionally and better serve my clients. My experience has helped me refine my business techniques and find my niche in the FHA Jumbo Market.  It has also enabled many clients to take advantage of this program, which in turn lowered intrest rates and saved them money.  My combination of experience and know-how has lead me to become a great resource for my clients and enabled them to achieve their dream of homeownership. Read More

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