Questions to Ask Your Refinance Mortgage Company

Refinancing a mortgage comes with numerous benefits if you choose the best mortgage company in Florida. And how to ensure this? There are certain questions you need to ask your refinancing company. These questions not only help you choose the right company but also help you get the most out of a refinancing loan.

What’s the turnaround time?

The loan processing typically takes 45 days. Including a closing date for writing a purchase contract effectively is crucial. Discuss this date with your lender. Check with them if there are potential issues that can delay closing.

Am I eligible for any mortgage discounts?

Discounts and offers aren’t reserved just for first-time buyers. Even experienced homebuyers receive some great deals. More often than not, the borrowers aren’t aware of these discounts. Asking about the same upfront is always, therefore, in your favor.

What additional fees do you levy?

Similar to the original mortgage, refinancing also comes with additional fees--such as credit checks, flood certification, third-party appraisal fees, recording fees, and title fees. Check the same with your lender how much you will be paying additionally.

How much down payment is required?

On an average, the homeowners need to pay 20% percent as the down payment. The amount may vary, depending on the lender.

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