The Dos and Don'ts of Refinancing Your Mortgage

As you've probably heard by now, mortgage rates are at a historical low. If you were ever going to refinance your home loan at the Lake of the Ozarks, now is the time to do it. Here at MHQ -
Mortgage Headquarters, we encourage you to reach out via phone and touch base with us if this is something you and your family are interested in. Refinancing your home loan can allow you to enjoy a number of benefits, including but not limited to lower payments. If you have any questions or just want to hear more, call our local Lake of the Ozarks mortgage company today at (573) 302-9990. In the meantime, keep reading this week's blog for the dos and don'ts of refinancing your mortgage.


The Dos and Don'ts of Refinancing Your Mortgage


THE DOS OF REFINANCING

DO monitor your credit score.
Give your credit score a quick check before considering refinancing. The better your score the better chances you probably have of getting a better rate!

 DO refinance for the right reasons.
Many people choose to refinance for a number of reasons. For example, they may want to lower their payments or reduce their PMI. These are valid reasons to refinance. Discuss why you are considering refinancing your home loan with a trusted mortgage lender who can guide you in the right direction and let you know if this is a good idea or not.


THE DON'TS OF REFINANCING

DON'T refinance your mortgage for MORE than it's worth.
You shouldn't be refinancing your loan in exchange for a large loan than you already have just for the interest rates. If you end up not being able to make the payments you could lose your house.

 DON'T refinance just because you're being hassled by companies looking to get you to pay your bills.
This is a decision you must make for the right reasons. It shouldn't be dictated by companies you owe money to.

 DON'T refinance to make payments on unsecured debts.
Let's be clear - unsecured debts are debts that didn't require you to put any collateral down to accumulate. Good examples of this are credit cards, medical bills, or electricity bills.


All of us here at MHQ - Mortgage Headquarters sincerely wish you all the best during this difficult time. Be safe out there. We encourage phone calls and you reaching out if you have any questions regarding our refinancing options. If anything doesn't make sense to you or you just want to learn more about what your specific refinancing options are, please give us a call today. We can be reached at (573) 302-9990. You can also learn more by visiting our website at www.MHQMortgage.com. Stay up to date on our latest announcements by following us on our social media channels listed below.


Mortgage Headquarters of Missouri, Inc
4824 Osage Beach Parkway, Suite 1
Osage Beach, MO 65065

Office: (573) 302-9990
Toll Free: (888)799-1206
Fax: (636)648-9917

NMLS # 1229111

www.MHQMortgage.com



Follow Us On:   Facebook   |   Twitter   |   LinkedIn
Location: Osage Beach, MO 65065, USA

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