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Mortgage Refinancing Help: Minnesota
“Many companies in this industry will do what ever they can to get away with charging you as much as they possibly can. Some of the ways they do this is not disclosing all the third party fees involved in a loan such as title insurance, appraisals, pre-paid tax and insurance escrows etc. It is important that you ask the loan officer you're speaking with about third party fees. If you don't they may not tell you and give you a good faith estimate that sounds fair, but at closing you'll find out that you have to pay a couple of thousand dollars more in fees you were unaware of. A good loan officer at a reputable company should have no problem disclosing all fees that pertain to your loan and should also make sure you understand what the fees are for.
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 If your new mortgage rate seems too good to be true then it probably is. Check for hidden fees in your mortgage that will make up that suspicious difference.
 See also:
 Advisors Mortgage L.L.C. »
Provides residential mortgage financing products throughout Minnesota.
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 Midwest Premier Mortgage »
Specializing in mortgages for clients with no credit, bad credit, and self-employment situations. Site offers full realty glossary, buyer tips, and online mortgage pre-qualification.
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 Julie Piper, Bell Mortgage »
Providing residential mortgages for the Twin Cities area of Minneapolis and St. Paul, Minnesota.
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 Highland Federal Mortgage »
Provides residential mortgages and financing for St. Paul and all of Minnesota.
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 Bankers Mortgage »
A mortgage brokerage offering home loans to first time home buyers through jumbo mortgages.
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 Thornton Mortgage, Inc »
Minnesota-based broker has a base of over 100 different mortgage programs and products, all types of credit welcome.
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 Home Sweet Home Equity »
Provides residential mortgage financing products throughout Minnesota.
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 M&I Consulting, Inc. »
Mortgage lender offers mortgage programs for residential properties in Minnesota.
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 Joe Metzler Group »
Mortgage banker and broker providing FHA, VA and conventional home mortgages for purchase or refinance in Minnesota and Wisconsin.
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 Paragon Home Mortgage »
Offering home loan, home mortgage, refinance, and debt consolidation needs in Minneapolis, Minnesota.
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 Water Street Mortgage Corporation »
Independent brokerage offering residential loans. Includes FAQs, client testimonials, programs, staff profiles. Offices in Chanhassen and Minnetonka.
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 Select Mortgage Corp. »
Providing various mortgage loan programs available to borrowers, including mortgage calculators.
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 Preferred Mortgage Corporation »
Provides residential mortgage financing for physicians in Minnesota.
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 Helgesen & Tonneson, RMG Mortgage »
Providers of mortgage financing for homebuyers in the Twin Cities.
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 Vision Mortgage Corporation »
Wholesale mortgage broker in the state of Minnesota providing conventional and sub prime borrowers, based out of Champlin, Minnesota.
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 If you want to make sure the interest rate your lender offers you is the rate you get when you close the loan, ask about a mortgage lock-in (also called a rate lock or rate commitment). Any lock-in promise should be in writing. Make sure your lender explains any costs or obligations before you sign.
Both new homebuyers and refinancers can get free access to the credit reports that lenders use by visiting AnnualCreditReport.com, a website created via Congressional mandate. A free report from each of the three consumer reporting agencies -- TransUnion, Experian and Equifax -- is available at no cost every 12 months. Check for errors; if mistakes are found, don't hesitate to dispute any and all inaccurate and derogatory items.
The length of time that you expect to keep the mortgage helps you determine whether it is worthwhile to pay points up front to reduce your interest rate. Unlike points paid on your original mortgage, points paid to refinance may not be fully deductible on your income taxes in the year they are paid.
Don't rely on published rates. "No one's going to advertise their worst product," says Keith T. Gumbinger of HSH Associates, a Butler, NJ, firm that tracks mortgage rates. "They advertise the best possible rate, which probably gets offered to only the top 10 percent of applicants."
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