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refinance: How long does it take to close a mortgage refinance? - 11/05/09 02:08 PM
How long does the mortgage refinance process take?                     
It is important to have proper expectations as to how long it will take to settle on your refinance. There are many factors that can affect the time that is will take to close. Please read on for a basic time line for a traditional FHA , Fannie Mae and Jumbo refinances.
Step 1: Identify a broker/lender that you trust to handle your loan transaction. Do not be fooled by "low cost/hidden fee" internet chop shops. It is important that you do not lose sight of the fact that your mortgage is your LARGEST … (0 comments)

refinance: Dear refinance fence sitter : a letter from your mortgage. - 06/29/09 10:06 AM




Josh BurleySr. Loan OfficerChoice Finance Corp. www.joshburley.netwww.choicefinance.net301.881.8900 x125
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refinance: What is a float down? - 06/26/09 11:23 AM
A float down is when rates improve after you have "locked in" your interest rate and the lender agrees to float your interest rate down to the market rate for that given day.
Q: Do all lenders offer this?
A: No. Every lender has a different policy. Some do not offer a float down option at all
Q: How do I know if the lender I am locked with will offer a float down?
A: Ask your mortgage broker. Ideally, you would want to ask this question prior to locking.
Q: What do I do if I am already locked and … (0 comments)

refinance: 3.75% Rates? Yes, they exist! - 05/05/09 12:07 PM
DID YOU KNOW THAT 5/1 ARM's are available today at 3.75%? and 7/1 ARM's from 4.125%?
With the recent drop in fixed rates since the beginning of the year, no one seems to be talking about Adjustable Rate Mortgages (ARM's).  This is for good reason too, the ARM has received a very bad reputation over the past couple of years. It is the ARM that caused the the subprime meltdown, which caused the credit crisis, which caused the banking crisis, which caused the economic crisis, which led to biggest financial crisis since the Great Depression! I'm pretty sure the ARM also is … (1 comments)

refinance: Do I lock in my interest rate or Float? - 04/28/09 09:43 AM
This is the million dollar question right now. The number 1 reason that people who can refinance, are waiting is the expectation or even fear that rates will plummet and they will be stuck with a 4.875% rate. My opinion on this has changed recently. Back in the good 'ol days (2003-2006) I would always recommend locking. Rates were always in danger of shooting up and fast! In August of 2003 we were enjoying the lowest rates we had ever seen, I was offering 5% 30 yr fixed mortgages with NO POINTS and on some days with NO COST. Then one … (0 comments)

 
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Choice Finance®

Rockville, MD

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Choice Finance Corporation

Address: Rockville, MD

Office Phone: (301) 881-8900

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