However, note that the mortgage process is based on your specific situation, and additional documents or verifications may be required in order to improve your chances of getting the lowest mortgage rate.

Following is a few refinance tips that might come in handy during your refinance or mortgage process.

1) Respond promptly to your broker's requests for additional documents or information.

2) Do not increase your dept by any major purchase during the loan process.

3) Do not buy anithing using the borrowed money until your loan is closed. (Do not buy a car, the furniture, a home video system, or another expensive item on borrowed money).

4) Do not move money into your bank accounts unless it can be traced.

5) Do not go out of town around the signing date. If you do, you may want to give a power of attorney to your co-borrower.

6) If your property is in a Trust account, advise your broker ASAP.

7) Investigate all your options and make sure to compare the worst-case scenarios.

8) Look at initial interest rate, the costs, future interest rates and payments, and the possibility of prepayment penalties.

9) Do not confuse <U>Pre-Approved</U> and <U>Pre-Qualified</U> with a loan commitment. Pre-Qualified is an educated guess about how much loan amount you could  afford. Pre-Approved is a verification from a lender that you can pay the loan payments based on the terms of your contract.

10) Having too much credit is almost as bad as no credit or even bad credit.

11) Exaggeration of your income or putting down untruthful statements on your application is a federal offense.

12) The worse thing you can do is to hide and do not answer your phone call when you are behind on your mortgage payment.

13) Failing to make your purchase contingent on a satisfactory home inspection could be a costly mistake.

14) Look for real estate agents who specialize in your neighborhood and have the experience.

15) Never, ever hire a contractor who knocks on your door or his prices are too good to be the truth.

16) Do not pay too much upfront money to your contractors.

Note1: We provide you with an excellent service. If you have additional questions, please feel free to contact us.

Note2: For a repeat customer, sign an application and disclosure. We will have our staff complete the application and disclosure forms using the previous data. Please let us know of any changes that occurred since last application.