Refinancing Your Mortgage Loan - Things To Consider

Make sure you find a reputable, experienced mortgage lender.
Working with an honest, service-oriented mortgage company is the most important ingredient in home financing or refinancing your mortgage. Dealing with the right lender could make your loan experience more beneficial, saving you money and time. Try asking a few good questions before choosing a home mortgage lender, such as:

  • How long has the mortgage lender been in business?
  • How, and when, can you get in touch with a representative? Mortgage lenders should be available through a variety of channels (phone, fax, e-mail) at times that are convenient for you.
  • Is the company a member of the Better Business Bureau? (Champion Mortgage is a division of Nationstar Mortgage LLC).
 Do a break-even analysis.
Weigh the benefits and drawbacks of mortgage refinancing by figuring out how much money you could save each month. Try our mortgage refinance calculators in Our Solutions to find out more.

Be sure to read all documents, particularly your Good Faith Estimate, before signing anything.
Try to allow yourself time to read over everything before your closing, so you are prepared to ask any questions or raise any concerns. At Champion Mortgage®, we won't surprise you with hidden out-of-pocket costs at closing. If you purchased your home with less than 20% down, you're probably paying for PMI each month. Once you have accumulated more than 20% in equity, you may be able to eliminate private mortgage insurance payments (check with your mortgage company first).

Understand that the market value of your home is often higher than the tax assessor's value.
Mortgage companies don't use the tax assessor's value, so why should you? Most mortgage lenders base your home's market value on many variables, including the value of other homes in your area. This will usually give you a higher appraisal value than the county tax assessor's. See our appraisals section for more details.

Never feel intimidated by the whole mortgage or refinancing process.
Ask questions if you're unsure of what's occurring. Your mortgage lender should walk you through the entire loan or refinancing process from start to finish.

At Champion Mortgage, our loan specialists are trained to listen to your needs and carefully assess your financial situation. Only then will we recommend a customized solution that makes sense for you. Ready to get started? Call 1-800-CHAMPION or click here to start your home mortgage process for a free, no obligation consultation with one of our Loan Specialists.



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