Refinancing Mistakes

Full Video Transcript

You may be thinking that it is time to consider a mortgage refinance. What is important to keep in mind is to not fall into common refinancing mistakes. Don't refinance with your existing lender without shopping around - your lender may not have the best rates or programs. Make sure to get a written good faith estimate of closing costs. Don't pay for an appraisal until an experienced loan officer has determined that the odds are strong your home value will come in where it needs to be for a successful transaction. Make sure to not sign your loan documents without reviewing them, and get a rate lock in writing. There are many other potential mistakes people can make when refinancing, it is best to find an experienced real estate professional in your area to help you through the process.

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