|By PR Newswire||
|April 9, 2014 12:00 AM EDT||
SAN DIEGO, April 9, 2014 /PRNewswire-iReach/ -- The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending news, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. Loan borrowers can now be assured that when refinancing home loan mortgages in 2014, Loan Love has them covered with the help of their new guide titled "Refinancing Your Home Loan: 2-Minute Guide!" This easy to use guide provides a quick refinance interest rate search engine with a detailed article explaining all the tips loan borrowers may find useful when refinancing an important mortgage loan.
With loan rates lower than they have been within recent years, finding and securing the best interest rates has never been more imperative than ever. As the Loan Love article aptly puts it: "Today's interest rates remain at all-time record lows, and that means it might be a good time to consider refinancing your home loan, especially if you've had it for several years. Of course, every homeowner's situation is different, and there are a lot of factors that can determine whether or not refinancing is the best choice for you."
Refinancing a mortgage loan, in layman's terms is a process that can lower the interest rates of a mortgage loan or "modify" the mortgage loan's terms, which can result in saving a lot of money. Even at a 1% difference, loan borrowers can potentially save thousands of dollars over the course of their mortgage loan term. Fortunately, the refinancing process is simple and straightforward, which Loan Love delves into further with the following steps:
- Refinancing is very similar to the process involved in securing your current mortgage:
- Begin by shopping around for the best rates and terms for your budget and lifestyle.
- Gather financial documents like tax returns and paystubs.
- Fill out paperwork (in most cases, this can be done online or with a phone call).
- The lender will review your paperwork, evaluate your creditworthiness and, usually, conduct an appraisal of your home's value.
- Go to closing and sign your loan. Loan funds will be distributed, your old mortgage will be paid in full and your refinance mortgage will become the mortgage of record.
Finally, attached to the Loan Love article is a Refinance Rate finder tool which can aid loan borrowers in finding the best refinancing rates around their region without all the inconveniences. With a only minimal information loan borrowers can find the most suitable refinance rates within minutes of searching. As a final reminder, Loan Love states: "Today's lenders have made the refinancing process simpler than ever, and most loan approval decisions are made the same day you apply, which means there's no long, nerve-wracking waiting period. Take a good look at your situation, and if a refinance seems like it might make sense for you, go ahead and take the plunge, you may end up saving thousands of dollars!"
To take advantage of the highly efficient refinance rate finder and to learn more on home loan mortgage refinancing, please visit LoanLove.com to view the complete guide.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, [email protected]
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