Saint Leonard, Maryland based Mortgage Lender Ralph Dawson reveals mortgage refinancing secrets at a new web site that is full of free reports, a home buying guide and free mortgage calculators. The site is designed to give Maryland residents all the facts about mortgage refinancing so they can make an educated decision when obtaining a mortgage.

Saint Leonard, MD -- (ReleaseWire) -- 07/05/2010 -- It seems like everyone in Maryland is looking these historically low interest rates on mortgages and considering refinancing. Maybe you're thinking about it yourself? After all, with rates as low as they are, the promise of lowering your monthly payments, sometimes significantly, is a great attraction for many homeowners.

But before you sign on the dotted line, there are a few things you should know about the way refinancing works so you don’t make a mistake that could wind up costing you big time.

"With refinancing your mortgage, Maryland residents have to be even more careful about shopping for the best loan," says Ralph Dawson, a Southern Maryland based mortgage consultant. "Even the most attractive offer can wind up being a disaster if your core objectives are not being met."

Dawson offers these tips when considering refinancing:

* You should get a significantly lower rate for refinancing to make sense. Don't rush to refinance unless it's truly worth your while. If you're currently working with a mortgage lender, be assured that they're bringing you the best offers out there that accomplishes your needs.

* Consolidating unsecured debt with a refinance loan can be a dangerous idea. Make sure it is part of an overall financial plan to reduce your monthly debt obligations while you begin to invest the savings toward your financial future.

* Your credit score counts... big time. If you've had credit problems in the past like a bankruptcy, it might make sense to wait a while for your credit score to recover before trying to refinance. Most lenders make it hard for people with less than perfect credit to get the best deals. But, again, if you choose to let an expert get involved in the process, they can often find loan options that most homeowners didn’t even know existed - which can save you thousands over the long haul.

Southern Maryland based mortgage expert Ralph Dawson specializes in providing mortgage information to Maryland residents that allows them to make informed decisions about their mortgage financing options and learn the insider secrets that can save them thousands of dollars over the life of their loan.

Ralph Dawson is available for interviews and will welcome all your mortgage related questions.

Call 410-586-1900 for a Free No-Obligation Consultation or visit http://callequity.info