REFINANCING TIPS

Buying your first home is a big deal. At LeBlanc Home Loans, we believe the process of buying your first home should be exciting and fun, not intimidating or confusing. With us by your side to answer your questions and guide you through every step of the first-time homeowner’s journey, you’ll feel more confident about your decision and super-stoked about your future.

We also know that you probably prefer to do online research about a major purchase before you decide to speak to someone personally. We’re okay with that, which is why we’ve provided this list of twelve first-time home buyer tips for every future homeowner who is about to begin the homebuying process. We’ll start with the first step:

Consider how long you’ll be living in your home

How long do you plan on staying in your current home? Refinancing can reduce your monthly payment initially, but that doesn’t always mean it will save you money in the long run. Fees and interest rates need to be considered when calculating if your new mortgage will save you money over the entire life of the loan. A licensed loan officer will be able to help you decide if refinancing is right for you. We’ll help you calculate at which point you will break even and begin to save.

Know the fees associated with your current mortgage

Understanding the terms that are unique to the mortgage process prior to meeting with your licensed LeBlanc Home loan officer can make everything easier to understand. Explore our Mortgage Glossary to become more familiar with loan and mortgage terms.

Know your credit score prior to applying

Review your credit report and get a copy of your credit score before you begin the refinancing process. Report any errors you find, and avoid actions that may lower your score. Having a higher credit score is more likely to result in a favorable interest rate and refinancing offer.