Home Refinance Advice Needed (no spam please)

[MisterNatural]

I want to refinance my condo and take out some cash to pay some credit debt. Does anyone have any advice on what company to use? Anyone have experience with any of the online companies like eloan and etrade? How about Primerica?

I want the lowest rate of course, but I don't want to take a risk with some fly by night operation. Any help would be appreciated.

[bwana devil]

i used to be mortgage broker in my spare time. doesnt matter if it's a fly by night company like you listed. they dont service the loan. they just do the paperwork and a major bank like chase would actually handle the loan.

shop around

dont focus on the interest rate as the only thing solely. know how many points (both orgination and discount points) are being charge to the loan.

[Shajen]

This is one area where I recommend using a brick and mortar. Try your local branch of your bank.

My wife is a loan processor. What specifically are you looking for? Lowest rate is going to be tied to your credit score. Also, how much debt do you have? I am (personal preference) against pulling out equity to pay down debt. If you have good credit, get a 0 interest rate on the life of transfered balances and pay it down that way.

More info needed, but avoid the internet loan offers.

[quadzilla]

I was a mortgage broker for a long time. The cheapest way would be to just open an equity line. You can get one from your bank with no closing costs in most cases. If it is a large amount ($25k+) and your current rate on your first mortgage is high it may make sense to redo the whole thing. Do you have good credit? If so just go to your local bank or credit union. They can get you a good rate with the lowest closing costs in most cases. Everyone wants the lowest rate just watch your closing costs. Mortgage brokers/Loan Officers will rob you blind if they get the chance. PM me if there is anything else I can help you with.

[Sponger15SB]

You want some advice?

Come over to my house and start answering my phone. We get like 3-4 calls per day from people wanting to "help us"