subject: Know Hints To Get The Best Rate On A Florida Refinance [print this page] Now that you have decided to look into getting your home refinanced, if you are like most of us, you are confused as to why the rates all seem to be different at every mortgage company. When you see the ads on TV or hear them on the radio, every advertisement is telling you they have a different rate and that theirs is the lowest. Let's talk about how to get the best deal on a Florida refinance.
This is not rocket science and with a few relatively easy steps you will assure yourself that you are getting the best rate that is being offered in the market today. It is simple to do.
Shopping around will be your best friend in the search for the best mortgage rate. Before you begin calling around to find your best rate, you will need to know what score is on your credit report. Make as many calls as you can, the more calls you make, the better your chance of finding the best possible rate.
Besides shopping around, the most important part of getting a good interest rate on your loan is a good credit score. You will get lower rates with a higher credit score. This is a very simple concept, nothing more, nothing less.
Before you start calling around, there are a few things that you can do to maximize your credit score. These may take a little time, so the sooner you start on this project, the better.
One of the best things that you can do do increase the score that is contained in your credit report is to get rid of any accounts that you are not using or have a low balance. The less open accounts that you have on your report the better your score will be. You may also want to take other cards that you have and transfer balances to the companies that give you the best interest rates and close the accounts where you transferred the balances from. This will decrease the amount of accounts you have even more.
Once you get a copy of your credit report, you can look at it and make sure that the information on it is all correct and belongs to you. If you find a mistake or an account that is not yours, you will need to contact the agency that is reporting the error and have it corrected.
Once you have paid off and closed excess lines of credit and done any necessary corrections, you will be ready to begin shopping for the best deal you can get on your mortgage refinance.
by: Jack Bentzen
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