When you want to spend a lot of money on something, you should look around for the best price. When shopping for a Utah mortgage refinance after bankruptcy, the same idea holds true.
On average, closing costs for a mortgage loan in Utah are $2,913. Considering how much you'll have to pay up front for your refinance, you'll want to make sure you get a good rate for the whole loan. Here are some tips to help you find the best rate for a Utah mortgage refinance after bankruptcy:
Buy online
It can take time to look around for the best rate on a Utah mortgage refinance after bankruptcy. If you want to save time, you might want to do your shopping online. Most of the time, you can get a quote and approval in just a few minutes. In some cases, you may even be able to get multiple mortgage refinance loan quotes from different lenders by filling out only one application.
Use Your Quotes
When shopping for a Utah mortgage refinance after bankruptcy, it's a good idea to get quotes so you can compare them. However, these quotes can help you in other ways as well. If one lender gives you a lower rate than another, you can use that to see if you can get the second lender to lower their rate. There is a lot of competition in the lending business, and lenders are always trying to meet and beat other deals.
Find out how much others are paying
Even if a lender says they can give you a good rate on your Utah mortgage refinance after bankruptcy, that doesn't mean it's true. You should see what other borrowers are paying to back up what the lender says. For instance, the average rate for a mortgage refinance in Utah right now is 5.64 percent. If the rate the lender gives you is in the double digits, it's not a good rate.
