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Rates are at historic low. Thinking about refinancing your mortgage?  Pay attention to these items:   

1. Appraised Value. Consider a possibility that your house may worth less than what you think it's worth. Know how much you owe and what the Loan-to-Value (LTV) is when the appraiser arrives. Inquire with us if your LTV is greather than 80%. We may qualify you for government special programs.
2. Obtain conditional approval and lock the rate (30 day lock - cushion for any financing contingency).
3. Do not start home improvements project prior to appraisal being completed.
4. Consider shorterning the maturity from 30 year to either 10, 15 or 20 year mortgage. Rates are still attractive. But, payments will go up.
5. Credit score preferably at 720. Minimum requirement is 620. Check for Dispute Account which can snag the refinancing process.  Inquire about our  special program if your credit score is less than 620.
6. New rule starting this year - Do not open any new trade lines until the financing process has been completed. Even soft inquiries need to be explained. (Concern that new debt is created).