Mortgage Refinancing


Fellow Lemonaders,

A few months back, Mrs. Lemonade and I refinanced our house...pretty pain-free too! We were able to get a great rate through our lender Wells Fargo.

Today, I was forwarded an article from MSN on ways to get a cheaper mortgage, which was very interesting.

In a nutshell:

1. Know the trends - Mortgages go up and down. With things the way they are (stimulus, etc) trend may be for rates to go up.

2. Pull the trigger - If the rate you are offering is at least 1 point less than what you have now...do it. Rates are at historic lows.

3. Understand the criteria - Income verification, FICO score of at least 720, down payment of at least 3.5% and manageable levels of debt.

Share and Enjoy:

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