Home Mortgage Refinancing

Question: What are the negotiating terms/drivers for a 40 year fixed rate home mortgage refinancing deal?

(Posted by: Rajagopal N on 2007-03-01 08:56:38)

I'm looking to obtain the best deal possible, so help me with the hidden quirks on this of type of transaction.

Posted by: Yanswersmonitorsarenazis on 2007-03-01, 10:17:30

There shouldn't be any hidden quirks. If that's the product you think you want, it should be relatively simple to get a few good-faith estimates from a couple different banks and brokers. Getting them all on the same day will help you know who is lowest, regardless of daily rate changes. Compare rates and fees, and do make sure you have confidence in the person you choose, but this is the only way to get your best deal. Start shopping. Ask for referrals from people you know for loan officers they've used in the past.

Posted by: DaveFrisch on 2007-03-03, 23:04:46

Well, if you want a 40yr term it sounds like you just want to lower your payments. It really depends on your credit and whats best for you in the financial situation your in. You can ge a free analysis at newprimehomeloans.com