refinance with the same company

Guest 0.10 Dollars($)

I am looking to refinance with the same company that granted me the mortgage loan. Will it be cheaper?

jameshogg · Posted: Mon Feb 06, 2006 1:54 pm Post subject:

Hi Sharon,

It may help you as most mortgage companies like to continue with their previous valued customers and you may get a reasonable rate on the new mortgage loan.

But it has to be remembered that it is not compulsory to have a deal with the same mortgage company and you should always shop around to see whether your mortgage company is giving you the best deal.

James

Guest 0.10 Dollars($)

Hi Sharon,

Most of the times you will find yourself at the benefit end if you continue with the same lender. You are quite known to them and if you had been regular in your payment so far, then it should not be difficult to refinance with the same lender.

Angel

blue · Posted: Mon Feb 06, 2006 2:13 pm Post subject:

Hi Sharon,

It isn't surprising if you get lower rates with the same company. You are quite known to them and also they know your credit history and property.

No new appraisal and title search are normally required in refinancing with the same company. The company also values its good customers.

With the same company you may not require to close the existing loan. But shopping around is the best way to know whether you are getting the best rates.

Regards,
Blue

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