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Mortgage Refinancing Tips

For over a decade, Nationwide has been publishing mortgage refinancing tips online in an effort to educate homeowners.  Borrowers are more savvy than they were years ago, but there have been so many changes in the mortgage industry over the last few years, even the most experienced loan applicants should spend some time getting up to speed on the new refinance guidelines.  Mortgage rates are more affordable than ever, but qualifying for a refinance loan may be more challenging than ever as well.

Helpful Tips for a Mortgage Refinance

  • Lock the interest rate once you are approved
  • Compare lenders by reviewing loan disclosures
  • Consider government programs like the VA and FHA Refinance
  • Seek a No Cost Refinance if you plan on moving or getting another mortgage in the next 5 years
  • Avoid a Loan with a Pre-Payment Penalty
  • Verify the interest rate on the mortgage note is the rate you were quoted
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