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1. mpento
   Member Profile

   I'm due a refiance and am totally lacking in experience. I guess I was thinking of cantacting a broker but also checking with my current bank and do some shopping around myself. My question is that it looks like there is sometimes(?) a fee for getting your credit report/number. Should I just get this myself and then share it appropriately or is it assumed that it's just part of the process. Thanks. Any good tips would be appreciated. I feel like a man shopping for lingerie. I'll end up paying the most for the smallest product and of course it won't fit :)

   Posted 2 years ago #         

2. WSB
   Member Profile

   

   Hi, mpento - I wanted to suggest a resource for tips - Rhonda Porter, a longtime WSB sponsor and West Seattle resident, is a mortgage broker who also writes extensively about mortgages and related consumer issues - you might consider searching her site for info on your specific question:
   http://mortgageporter.com

   (also accessible from her ad in our sidebar)

   Posted 2 years ago #         

3. bluebird
   Member Profile

   Rhonda is excellent. Did my re-fi through her. You will not feel stupid or unprepared. She'll hold your hand as much or as little as you need through the entire process. And as stated, lots of good info on her site.

   Posted 2 years ago #         

4. Weezie
   Member Profile

   The first thing is to check with your current lender. If you don't like what they have to say, or offer you, I suggest going to http://www.becu.org.

   Posted 2 years ago #         

5. DaveB
   Member Profile

   Dave Craig is another option, he's a WS-er too. Very helpful, and will provide an excel spreadsheet with a number of varibles that you can change to see how that would impact your payments.
   http://dcraig-windermeremortgageserviceslo.mortgagewebcenter.com/Default.asp?bhcp=1

   Posted 2 years ago #         

6. thansen
   Member Profile

   

   mpento - Do not pull your own credit report. The report you pull is not the same as the one a mortgage broker pulls. The report you'd get is not as comprehensive, so you'd be wasting money because the broker would have to pull again anyway.

   I work with Mark Rekate at Loan Networks. He's been doing mortage refi's for 10 years and lives in West Seattle. His number is 206-890-8070

   Posted 1 year ago #         

7. JoB
   Member Profile

   but do check your free credit report to spot any problems you weren't aware of so you can fix anything incorrect that could affect your credit score before going through the process...

   Posted 1 year ago #         

8. mpento
   Member Profile

   Hey thanks for reviving my post. I am currently enjoying 3.125% on my now adjustable mortgage. I just can motivate myself to go through all the hassle and cost of organising a fixed mortgage that will probably be 4.5-5% Procrastination FTW!

   Posted 1 year ago #         

9. JoB
   Member Profile

   if you can move to a fixed mortgage..
   now is not the time to procrastinate.

   Posted 1 year ago #         

10. biankat
    Member Profile

    

    JoB is absolutely correct. With rates as low as they are now you shouldn't procrastinate to move from an adjustable to a fixed. BECU recently was down to 4.125% for a 30-year fixed. I see today they're 4.25. Unbelievable. And, everyone's entitled to a free annual credit report. Don't fall for those supposed free sites (ala FreeCreditReport.com) that make you sign up for some membership. Use AnnualCreditReport.com for a true non-obligation site.

    Posted 1 year ago #         

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