Refinancing With Your Current Lender Is NOT Always Easier  Scott
Sheldon Contact Scott Refinancing With Your Current Lender
Searching for a competitive mortgage rate and terms can
certainly be challenging in today’s lending world. Mortgage
rates are presently at historic lows and there is even greater
opportunity to aggressively pay down your mortgage balance. So
where do you go to secure the best possible interest rate on
that new mortgage loan? Well…banks create a perception to their
customers that because they are servicing the customer’s home
loan already the process of refinancing will be made easier by
just working directly with them. This is nothing more than a
clever sales pitch.  What do you mean refinancing with my
current lender is not easier?  It also does not benefit them.
Think about it for a second. Let’s say you are paying 5.5% on
your 30 year fixed-rate mortgage and your balance is somewhere
around $200,000. This means your bank is making roughly $11,000
per year off of the money they lent y