what is the best rate someone can have for a refinance mortgage?
having 668 on credit score and being first time home buying. Today, what docs do we need to present to refinace? Thanks, I appeciate your help- Well it depends. right now rates are up around 7%, you may be able to get something better at a bank. docs usually needed are paystubs, W2's, Homeowners insurance declaration page, your first mortgage note or statement. and typically you go from there. But as far as rate, it is depending on pay history, new accounts opened recently, stuff like that. It also depends on your LTV, loan - to - value, usually the higher the LTV, higher the rate, for example, your house gets appraised for 200, 000 but your balance is 197, 000, you do a total refinance and it includes fees which also eats your equity, your rate may be higher. If your house values at 200, 000 and your balance is at 175, 000, your rate would be much lower compared to a high LTV. Basically, if you just bought your house within the last 12 months, and you bought it very close or at the valued price, it may not be a good idea to refi at this time. but if you have a lot of equity built up then go for it
- It will depend on the whole picture, not just your credit score. The fact that this is your first home is not a consideration in refinancing the home. Documents you will need are 2 mos paystubs, account statements for ets like savings or retirement accts, insurance info. the processor on the loan would acquire the other items like verification of employment etc. Rates are in the mid to upper 6's depending on if you pay your closing costs or do a no closing cost option. The amount of equity plays a part in your loan qualifying. You can find alot more help / info here. aimwithfocus.com / Refinance.html aimwithfocus.com / no_closing_cost_loans.html aimwithfocus.com / prequalify.html Good Luck OBA?
- There are many factors involved when determining interest rate. If you have an FHA loan and you streamline refinance, meaning you do not want cash out, you just want to lower your rate you will not even have to pay for an appriasal and fees are minimal. If you are doing a cash out refi The typicall documentation is. 2 years tax returns Year to date earning Another consideration is how much equity and the loan to value you plan on borrowing. The more equity you pull out of your home the more risk for the lender
- first time home buying? refinance? that doesnt make sense. rate depends on the loan to value. and if you're looking for a 30yr fixed. what's the loan amount. you need to present paystubs, w - 2's, et statements, etc your rate shouldnt be higher than 6. 375 for a 30yr fixed. with a loan amount over 150k. 80% LTV
- Hi Claudia; if you are siously considering this, and would like to speak to a live mortagge propfessional, you can email me at dantaft@bellsouth.net - you may be able to get a rate in the high 5s to low 6s, but I would really need more information to give you an accurate idea of what you would qualify for. Your question is a bit confusing as well, as you ask about refinancing and home purchase at the same time. Email me for more info and we can clear everything up and go from there
Knowledge Base
where can I find a mortgage refinance if I have bad credit?
it depends on how much equity you have in the house. lendingtree.com, eloan.com refinanace. ameriquestmortgage.com mortgageloan.com. i'd be happy to point you in the direction of a good and fair mortgage broker. i was in the residential lending market for years before moving into commercial real estate. also, if you (mortgage refinance rates)
Do we need to get a new le insurance when we refinance our home mortgage loan?
we bought a le insurance when we first got our home loan. we are now refinancing with another bank and they are requiring us to get a new le insurance. is this right?. i work at a mortgage company, and most banks require le insurance for every mortgage that they (home mortgage refinance loan)
What is the best refinance plan to reduce my monthly mortgage payments?
i am looking for the best plan as in: - not getting my face ripped off in closing cost - not increasing my current interest rate of 5. 8 to something over 8% - not having to pay thousands in points it seems i am having the same dilemna as (home mortgage refinance loan)
Knowledge Base: Mortgage Refinance
I am looking for the best mortgage company for a refinance. Two criteria, low interest rate and low fees. ?
does anyone have any suggestion? where to look, what to stay away from or tricks of the trade. made a poor decision on our present mortgage and do not want to do a repeat. am locked in on present note for 45 more days and then we want out. looking (best refinance mortgage)
Can I refinance a mortgage with bad credit?
i have been in the house 8 years and have a rate of 7 for 30 years. i have bad credit and wonder if it would benefit me to refinance to a lower rate?. no. tom only a lender can tell you for sure. depends on what you mean by (mortgage refinance rates)
How can I get a High - LTV ration mortgage refinance loan?
i have a recently purchased condo in dc with a value that continues to tank with the economy. currently have 2 mortgages on it making the ltv somewhere in the neighborhood of 110 percent. looking to refinance i have relatively high income, excellent credit property value approximately $250, 000 and (best refinance mortgage)
how do i get the best mortgage refinance?
hey kevin, it may sound left field, but i'd go for an interest only mortgage. you can take the difference in payment and put it in a vehicle that's safe, liquid, and earning interest even a savings account. most do not do it because most do not understand the risk (mortgage refinance loans)
best bank to refinance mortgage?
what would be the best bak of choice to refinance my mortgage?. that's a trick question. i would suggest you first ask your regular banking account manager. === if i was paying off a mortgage - and never missed a pymt - ? i'd go shopping for money. where. ? (refinance mortgage bad credit)
Knowledge Base: Best Refinance Mortgage
what is the best mortgage in order to refinance ?
i have lets bad to ok credit. i tried to do an application with my current mortgage but they told me i couldnt do it because something about percents. and they also told me that if they couldnt get me approved no other mortage could ? who knows if this (best refinance mortgage)
Mortgage refinance when is the best time ?
refinancing mortgage is not an easy decision, when is the best time to refinance ?. interest rates fluctuate together with economy. depending on what they were at the time of closing the loan, you may have chosen an adjustable rate loan or a fixed rate loan. that means that you (best refinance mortgage)
what is the best rate someone can have for a refinance mortgage?
having 668 on credit score and being first time home buying. today, what docs do we need to present to refinace? thanks, i appeciate your help. first time home buying? refinance? that doesnt make sense. rate depends on the loan to value. and if you're looking for a 30yr fixed. (best refinance mortgage)
Who is the best mortgage refinance company?
we are looking to combine our first and second mortgage on our home. current first approx. $80, 000 current second approx $60, 000 house value @ $165, 000 would also like to have a little cusion in the bank. with less than perfect credit who is our best choice of (best refinance mortgage)
I am looking for the best mortgage company for a refinance. Two criteria, low interest rate and low fees. ?
does anyone have any suggestion? where to look, what to stay away from or tricks of the trade. made a poor decision on our present mortgage and do not want to do a repeat. am locked in on present note for 45 more days and then we want out. looking (best refinance mortgage)
