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Most homeowners collect half a dozen mortgage quotes, pick the one with lowest interest rate, and walk away thinking theyve got a good deal when refinancing. The problem with this approach is that you are simply getting the best of the worst retail loans available. Here are several tips to help you refinance your mortgage with the lowest wholesale rate possible.

What exactly is the best lender when refinancing your mortgage? Ask five different homeowners what makes a good lender and youll surely get five different answers. If youre in the market to refinance your mortgage the best lender is the one that gives you the lowest interest rate and fees for your situation. How do you make sure that you get the lowest rate when refinancing? Find a mortgage company that doesnt charge you Yield Spread Premium when refinancing and youll be ahead of 97% of homeowners out there.

Never heard of Yield Spread Premium? This markup of your mortgage interest rate only serves to give your loan originator a fat bonus check. Youre already paying a perfectly reasonable origination fee for this persons work; however, your interest rate is marked up for a second commission. Yield Spread Premium is added to your interest rate because the wholesale lender behind your loan pays 1.0% of your mortgage amount for every .25% you agree to overpay. Thats a lot of money and a perfectly legal incentive for ripping you off.

Despite the ridiculous truth about this markup and the raging debates in Congress, most homeowners have never heard of and happily pay Yield Spread Premium when refinancing their mortgages. The good news for you is that by learning to recognize Yield Spread Premium you can avoid paying too much when refinancing your mortgage. You can learn more about avoiding Yield Spread Premium when refinancing with a free mortgage toolkit.

To get your FREE Mortgage Refinancing Video Toolkit, visit RefiAdvisor.com using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this "Mortgage Refinancing Toolkit," which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit Refiadvisor.com.

Get your free mortgage refinancing tutorial today at: http://www.refiadvisor.com

Arizona Refinance Mortgage Rate