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How will I get lower interest rates when I refinance home?
By
Mayne E
Posted on
01/08/08 Total Answers
4
Answers-
Depends on your credit score usually. If you have really good credit, when you refinance you can get the lowest finance rate set at that time.
Answer by :
*Daisey On Date
2008-01-08 10:36:04
Interest rates are determined on a number of factors like credit score, employment history, length of time to repay the loan and the amount you want to borrow vs. the value of the home.
Some factors will take time to change, like work history and credit score, so you can't really do anything about that side of things. All you can do in the now is to play around with the term (length of loan) and loan to value. Keeping the amount you borrow under 80% helps you out quite a bit.
The best thing to do is to call and talk to a mortgage broker - with the slowdown in the housing market, they are not very busy right now and will talk to just about anyone. Brokers can 'shop' your loan to a number of lenders, so you have a choice of the best rates.
Answer by :
Mike C On Date
2008-01-08 10:42:58
You should close some of your credit accounts. Source: http://www.whataboutloans.com/mortgage/mortgage-refinance-loans.html
Answer by :
McIntyre D On Date
2008-01-08 10:49:27
you need to get a hold of me and let me take a look at the scenario for ya! i'm a mortgage broker, do a ton of refinances. i'll let you know the best loan for you, or even if it's worth refinancing.
typically, the easiest way to bring your rate down is having equity and good credit. send me a message with some details and i'll get you some more info.
Answer by :
evensonhimself On Date
2008-01-08 16:46:07
