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DonziDave
04-06-2007, 08:05 PM
I'm in the process of refinancing my house and want to shop around for the best deal and to keep my current mortgage company honest. Anyone had a recent good experiance and suggestions on some companies to contact?

Thanks - Dave

Donzigo
04-06-2007, 08:51 PM
My son has been a mortgage broker for years. He does some very creative stuff and has lots of repeat customers. Throw him a call to see what he can do for you, if you like.

David Aaron Cell:727-692-6971 Home:727-368-5795

Just Say N20
04-06-2007, 09:06 PM
I believe the company you work for has to be licensed to do mortgages in states individually. A New Hampshire guy can't write a New York mortgage unless the company he works for is approved to do business in New York.

Bigbroadjumper
04-06-2007, 09:44 PM
I have been in the Mortgage business for 21 years and my advise to you is do some research! One web site you can check out is www.cmpsinstitute.org. Anyone who is listed on their website has taken an additional 16 hours of continuing education and should be up to date on all the latest mortgage options as well as be able to advise you on the tax ramifacations as well. I now work for American Home Mortgage and am licensed in all 50 states. I would be happy to answer any questions you may have.
Drop me a PM if I can be of any assistance.

Thanks

realbold
04-07-2007, 06:25 AM
Dave, don't mean to hijack but did you ever sell the SN19?

Carl C
04-07-2007, 06:51 AM
I got jerked around by Rock Financial a few years back. They promise a good rate but can't come through. I'd avoid them if they're still around. Locally, I like Flagstar Bank. Ameriquest was OK too.

realbold
04-07-2007, 07:13 AM
I refied my northern Michigan property last year and after shopping around, got the best deal from a local area bank up there, so I stayed with them.
I would stay away from adjustable rates and early payment penalties.

Bigbroadjumper
04-07-2007, 04:43 PM
Adjustable rate mortgages are getting a bad rap right now. They can be a very good option. Some are better then others. If you can show me one person who still has their 30 year fixed rate mortgage they took out in 1977, I will kiss your A$$. The average length of a mortgage in the last 12 years is less then 4 years.

The best mortgage's give you options, for my money I would look at a 5 to 7 year fixed with interest only option. That gives you the flexibility to invest the difference elsewhere. You should talk to your mortgage advisor on a yearly basis because the market is constantly changing. Think of your mortgage as a debt instrument and manage it accordingly.

My last bit of advise is beware of the companies that advertise on the major networks, and talk about "no closing costs" and "APR's" several of them manipulate the numbers so they don't show up in the APR and you loose two ways. 1st you end up paying high fees and 2nd these fees are not tax deductible.

Sorry for the rant! I am very passionate about the business.

Bob Dean
Certified Mortgage Planning Specialist
Branch Manager
203K Certified
American Home Mortgage Company
Roscoe, IL
815 342-2714

DonziDave
04-07-2007, 08:25 PM
Thanks to all for the good advice...!!!
RealBold - Still have the SuperNova. It's a great deal for someone.