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If you are considering refinancing your mortgage loan over the Internet, there are a number of costly pitfalls you must avoid. These problems can lead to overpaying thousands of dollars in unnecessary mortgage interest and lender fees. Here are three tips to help you refinance your mortgage online without a costly mistake homeowners.

Shop for the most Competitive Rate Mortgage

The Internet makes it easy to quickly compare mortgage rates from dozens of online mortgage companies. As comparison shopping for a new mortgage loan, do not stop with the interest rate, compare all aspects of the loan offers you are considering, origination points, processing free, and include costs. Ask your friends and relatives when they refinanced their mortgage and compare offers from mortgage companies.

Remember the hidden costs of the yield spread premium

Yield Spread Premium is the retail markup of the interest rate the mortgage company. Mortgage companies usually marked loans of up to three points. This money will be used by the wholesale lender when the mortgage companies blowing your interest rate. The retail markup of your mortgage wholesale rate may be overpaying thousands of dollars in unnecessary interest in the first year alone. You can avoid the yield spread premium lenders and other unnecessary fees, if you ask the right questions when comparison shopping for a mortgage.

Avoid Computerized Loan Origination Fees

Many Internet portals such as mortgage-Tree a Computerized Loan Origination Fee. If you look carefully at the license and you will find information on the Lending Tree website, you will notice that your mortgage lender will charge you a $ 1300 on the closure for the use of credit Tree Service. This is in addition to the emergence of fees you pay for the new loan. You pay the extra $ 1300 just for filling out a form for the lending tree website, all the while lending tree claims, there is no fee for the use of their website. Before using a portal offers mortgage loans to compare carefully the fine print in their terms.

You can learn more strategies for mortgage refinancing while avoiding costly mistakes by registering for a free mortgage tutorial.

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

Louie Latour specializes in homeowners how to avoid costly mortgage mistakes and predatory lenders. For a free copy of "Mortgage Refinancing - What You Need To Know," which teaches strategies to find the best mortgage and save thousands of dollars in the process, visit Refiadvisor.com.

Claim your free mortgage refinancing guide today at: http://www.refiadvisor.com

How to refinance mortgage