Hi,
I have an app't with the company that did my first/second mtg next week to refinance. Here's the stats:
1st approx 103,000 at 7% (?) interest only - prepay penalty is up end of August, rate adjusts in Sept.
2nd mtg approx 26,000 at 9% (?)
mtg broker told me he thought he could get home appraised at $140,000 (I live in an area with a lot of foreclosures)
Refinancing fee is $375 - I was told that when I made the app't and when I first got my mortgage, rate he said I'd probably get is 6.75 for 30 yr fixed, or could go one year arm at 5.25%
My fico scores EQ & EX are in 650's - TU is 684
Other debt approx $600 month
My minimum annual income is approx $65,000 to $70,000
My question is: is it good to also go online and check with other mortgage companies to compare? I don't want to hurt my credit score by having a lot of different people checking my account & I don't want to pay any fees to just apply.
Thanks for all your help! Lynn
