Be sure to ask for copies of the Good Faith Estimate before you agree to a deal. Granted this document is only an estimate, it should be very close to an accurate assessment of all fees and charges. If a broker tells you that they cannot provide information on a particular charge, begin to ask questions until you are satisfied. Most good brokers will provide a Good Faith Estimate (GFE) during the loan process, and come the day of closing you will find that you have to pay less than estimated.

Your mortgage professional will help you to choose the right type of refinancing for you. Be prepared to provide them with your reasoning for the refinance, as it will help them to better assess your situation. Are you looking only for a better rate or do you need cash out or debt consolidation?

Be sure to answer all of your mortgage brokers questions as accurately as possible. This will help your mortgage broker in determining which loan program may best fit your needs.

Before contacting your preferred mortgage professional, you may want to gather these documents before hand:

Most recent paystubs totalling 30 days
Most recent bank statements for checkings, savings, IRA, 401(k), etc. totalling 3 months
Last 2 years of W2's if salaried or wage earner. Last 2 years tax returns if self-employed
Any other documents to show income from social security, alimony, rental income, etc.
Homeowners insurance declaration page
Most recent mortgage statement(s)

Everything you will encounter in your mortgage experience you can find on the internet, if you are reading this, you have access to learn more than you can handle in regard to this transaction...Gather info, research that info, get more info from second source, research that info, repeat that process until you feel that you can make a well informed decision, if you don't think after that that you can make a good decision for yourself, seek legal advise...Just involving a lawyer will minimize the games and tactics that may otherwise be used...You'll never be good at anything you don't do often, but you can be as informed as possible...Just knowing where to find the answers and explanations can be money saving!...You don't always get what you pay for, well you do, but it's not always worth what you paid for it so when you take advise from the person that stands to make the most, be wary and research before making a decision...