Refinancing Home Mortgage
In: Mortgage Lenders
8 Nov 2010So after I close on a loan, my mortgage broker has made all his money, or it can be a little each month for the life of my loan?
A few months ago I refinance without closing costs. The biggest surprise was that it really does not include costs. I did not cheat to surprise fees, etc. (I wrote a big check, but it was of interest each month is a part, the financing of my trustees and other things I wanted to pay one way or another anyway.) Conclusion is I have a mortgage broker who will not charge closing costs, for real, and I would use it again as rates fell more than 3 / 4 points since I refinanced.
Is my broker happy to know that I’m ready for another re-fi? Or would he know that I continue my loan current, in which case I expect that it is less useful to repay.
If you refinance a few months only, most lenders will not let you refinance again today. This is not something you can do only hold until you get an interest rate that makes you happy.
Mortgage brokers make their money in a sum approved for your mortgage or clear (also for funding.) There is no reason why a broker would not help if it really was a waste of time – not because of money (or lack thereof) involved.
This is about mortgage information questions.
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