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Locking in a low rate with your mortgage broker might cost a fee. Find out how much this fee is, and how long the lock is good for. If you know you are going to settle in 2 months, and the rate lock is only good for 30 days, you are going to be in a bad situation if rates are rising. And, do not be surprised if YOUR loan's rate goes up even if they market has not. Mortgage brokers get paid more when they sell higher rate loans. It is their job to fleece you.

If you are going to consolidate your student loans, you MUST check more than one company. Do not trust your current lender to give you the best deal. They trust you will be lazy and not find a better deal. You can only consolidate once and they know it.

Refinancing your current mortgage has many advantages. First, you may be able to lower your monthly payments. Second, you may be able to take cash out to pay off your high interest credit card bills or buy a new addition. Third, you may be able to get a lower interest rate or shorter term with a new loan. You may also be able to stop paying PMI if your home has recently appreciated in value. You should speak with a qualified financial advisor to see if refinancing is a good option for you.

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