I am proud to be part of the Directors Mortgage team – the largest privately owned mortgage company throughout Oregon & Washington. Directors Mortgage is built upon these three principles:

• Take care of our Clients’ Needs

• Take care of our Team Members

• Take care of our Community

As your Sr. Mortgage Specialist, I am committed to providing you with an unsurpassed level of customer service and hope to become your Mortgage Specialist for Life.

Mark J. Hanna and Directors Mortgage were honored with the 2013 Spirit of Hope Award for the generous charitable contribution made to the Portland American Cancer Society. Directors Mortgage is proud to be the Naming sponsor of the 2013 and 2014 Portland Hope Ball supporting the American Cancer Society.

I am proud to be part of the Directors Mortgage team – the largest privately owned mortgage company throughout Oregon & Washington. Directors Mortgage is built upon these three principles:

• Take care of our Clients’ Needs

• Take care of our Team Members

• Take care of our Community

As your Sr. Mortgage Specialist, I am committed to providing you with an unsurpassed level of customer service and hope to become your Mortgage Specialist for Life.

I am proud to be part of the Directors Mortgage team – the largest privately owned mortgage company throughout Oregon & Washington. Directors Mortgage is built upon these three principles:

• Take care of our Clients’ Needs

• Take care of our Team Members

• Take care of our Community

As your Mortgage Specialist, I am committed to providing you with an unsurpassed level of customer service and hope to become your Mortgage Specialist for Life.

I am proud to be part of the Directors Mortgage team – the largest privately owned mortgage company throughout Oregon & Washington. Directors Mortgage is built upon these three principles:

• Take care of our Clients’ Needs

• Take care of our Team Members

• Take care of our Community

As the Reverse Mortgage Manager, I am committed to providing you with an unsurpassed level of customer service and hope to become your Mortgage Specialist for Life.

Lori has been in the Mortgage Industry for over 25 years. She began her Mortgage career in 1986 with the goal of helping people get into the home of their dreams. She prides herself on providing prompt and courteous service centered around her clients’ specific needs.

As your Sr. Mortgage Specialist, Lori is committed to providing you with an unsurpassed level of customer service and hopes to become your Mortgage Specialist for Life.

“I love being a part of the Mortgage business because it’s a people business. I look forward to the opportunity to provide you with all your home financing needs.”

I am proud to be part of the Directors Mortgage team – the largest privately owned mortgage company throughout Oregon & Washington. Directors Mortgage is built upon these three principles:

• Take care of our Clients’ Needs

• Take care of our Team Members

• Take care of our Community

As your Sr. Mortgage Specialist, I am committed to providing you with an unsurpassed level of customer service and hope to become your Mortgage Specialist for Life.

Determine Your Purpose: Think about why you need to refinance

Note that refinancing is mainly done to make your monthly payments more affordable or to take out cash from your home’s equity. It’s a common misconception of homeowners that refinancing their home loans can ultimately solve all their financial problems. Hence, evaluate your purpose and make sure you have realistic goals.

Check Your Credit: Know where you stand financially

Just like the first time you applied for a loan, refinancing also requires you to know what’s going on with your credit history and score. Review both before going to a creditor, to give you time to either correct errors in your report or improve them by settling unpaid debts. As you may already know, good credit equates to better deals.

Use Your Calculator: Crunch the numbers and weigh your options

You can’t just choose the first refinancing deal that is offered to you. In fact, most lenders may have several mortgage solutions for your specific situation and need. Therefore, take time to sharpen your math skills; calculate how much you’ll eventually pay in interest throughout the life of your loan. The small picture can show reasonable monthly fees, but the larger picture may reveal otherwise.

Consult Your Chosen Professional: Take note that two heads are better than one

Since mortgage refinancing is both a complicated and critical decision, consider working with reliable direct mortgage lenders or specialists from leading companies like Directors Mortgage. They can give you valuable advice and guide you through the refinancing process.

Take into account these tips to avoid future issues with your refinancing program should you decide to go through with it. Always remember to have realistic expectations, consider your financial status, compare several refinancing options, and seek the assistance of professionals.

Get lower mortgage rates

To reduce interest rates is one of the primary reasons why homeowners move to refinance. Thus, it’s vital that you keep an eye on what’s going on in the real estate and financial markets. Once you determine that you’re eligible for lower rates, it’s a good idea to start looking around for affordable mortgage refinancing programs.

Switch to a better type of loan

When you were searching for a home loan, you probably had to choose between adjustable and fixed-rate mortgages. If you think the current tide of the loan market is in favor of fixed-rate mortgages (FRM), you can convert your adjustable-rate mortgage (ARM) via refinancing and enjoy more stability. The same logic follows when you think interest rates are about to drop; you can switch from FRM to ARM.

Consolidating all your debt

If you want to manage all your debts through a single loan, refinancing your home loan is a feasible option. However, consolidating your debt through refinance programs may involve several fees (e.g. lender fees, taxes) and a ton of paperwork. Therefore, it’s highly recommended that you consult professional mortgage brokers who can assess your situation and give you sound financial advice.

Cash out on your home’s equity

In times of emergency, such as sudden illness or hospitalization, you can extract equity from your home with a cash-out refinance program. Take note that lenders may charge higher interest rates for this type of refinancing, so you must treat it as a last resort.

Of course, before you make the major decision to refinance your mortgage, it will be beneficial if you consult a knowledgeable and experienced mortgage broker from an established company like Directors Mortgage. A broker can help identify the best mortgage solutions for your specific situation so you won’t make any wrong decisions that can cost you your home in the future.

The first thing you need to consider when obtaining a home mortgage is your personal financial situation. Can your income cover your monthly mortgage payments without cutting into your budget for everyday needs? It’s also important to consider in advance how much you can offer as a down payment, as this may affect your credit score as well as your home mortgage interest rate.

When dealing with a potential mortgage lender, clearly lay down what your financial capacity is from the outset. This will allow companies like Directors Mortgage to recommend a mortgage plan that’s suited to your monthly budget. Aside from the actual cost of the house, take note of the terms being offered. For instance, a longer payment term may entail lower monthly payments, but interest will certainly be higher. In the end, you may find yourself paying more for your house than you had planned to.

You also need to be aware of the mortgage closing cost. This essentially entails the legal fees incurred by your lender to process transfer of ownership of the property to you. You will typically be asked to pay this cost in full upon purchase. However, it can also be rolled into the monthly cost of your loan until the entire amount is paid off.

If you have outstanding credit card balances or other debts, consider paying them off as much as possible before securing a mortgage. This way, you can further boost your credit score prior to applying for a loan. Lenders are more inclined to give you a lower interest rate if you have a higher credit score.

Before striking any deal, be sure that you understand the range of professional mortgage services offered by your lender. Comprehensive knowledge of mortgage and loan basics can also help ensure that you get the best deal for your new home.