100 split mortgage

100 split mortgage
There are a lot of bad advice on the Internet through the mortgage refinancing. The majority of what you read is sales motivated and results in overpaying for the new mortgage. It is, however, a little-known error can result in overpaying thousands of dollars each year you keep the loan. Here are some tips for you to avoid too much when refinancing your mortgage.

"So what is a heinous error that results in overpaying thousands of dollars each year for the new mortgage loan? Simply put, it is the retail markup of your mortgage interest rate. The markup is a technical company, the people in financial circles call it yield spread premium.

What is Yield Spread Premium? If you opt for mortgage refinancing you qualify for a fixed mortgage rate from a wholesale lender. The loan that representatives from your loan until you sell a mortgage interest rate that gives them the greatest Commission. The difference between the mortgage, you are qualified and the interest rate is close with the yield spread premium.

Your mortgage will be marked as your wholesale lenders pay the loan originator a bonus if you have to pay. For every quarter point you agree to pay on the mortgage that you qualify, your loan representative receives a bonus of one percent of the loan amount. This bonus is in addition to connection fees you already pay for your loan services representative.

The agreement to pay yield spread premium is overpaying thousands of dollars in unnecessary mortgage interest. The good news is that you avoid these common mistakes mortgage refinance and qualify for the perfect mortgage. You can learn more about mortgage refinancing while avoiding costly mistakes with a free mortgage tutorial.

To get your free six sub mortgage refinancing tutorial, visit RefiAdvisor.com with the link below.

Louie Latour specializes in homeowners how to avoid costly mortgage mistakes and predatory lenders. To your hands on this free video tutorial: "Mortgage Refinancing - What You Need To Know," "teaches strategies for finding the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.