 TITLE: How to Choose the Right Lender for a Mortgage Refinance CONTENT: What Should You Look for in a Mortgage Lender?\n----------------------------------------------\nWhen searching for a new mortgage lender, you'll want to feel comfortable working with whomever you choose. You may find a lender that doesn't quite offer the best rates but is able to win you over with excellent customer service and reliable communication. The right lender for you probably has some combination of the following, preferably all three:\n*   **Lowest interest rate**: When you refinance, your new loan will be assigned a new interest rate. If the goal of your refinance is to find a lower interest rate, keep your eyes open for the lowest one and make sure lenders know it's a priority. Because a mortgage loan is so large, even a small change in your interest rate can end up saving you a lot of money over time.\n*   **Lowest fees**: Each mortgage comes with fees that tend to vary by lender. Look out for two types of fees: upfront fees (closing costs) that you'll pay when the refinance agreement is signed, and ongoing fees such as charges for late payments, early repayment and more. If you're refinancing to save money, make sure the refinance fees don't exceed the savings you'll realize.\n*   **Great customer service**: When looking for a new mortgage lender, seek one that you feel has good customer service. You'll interact with your lender beyond just the application process—you may need to troubleshoot your loan later on, for instance—so you'll want to feel comfortable with the company. Take note of how responsive they are, how they handle your issues and whether you feel a personal connection or comfort with the agents you speak with.\nAfter you apply for a loan, lenders are required by law to provide you with a \"good faith estimate,\" which should outline the rates and fees included in the loan. This estimate will also outline closing costs and give you a clear idea of how much refinancing will cost with that lender. Lenders must provide good faith estimates within three business days of receiving your application. END