Current APR 6.375
Would like to refinance around 5% APR
With lates and a few charge offs from 5 years ago, would a mortgage company do a refi for one of it’s existing mortgage loan customers that has a weak credit score?
Not likely. You would think it makes sense because you are more likely to meet a lower payment. However, the way mortgages are financed makes this a terrible deal for the bank. They cannot sell your new loan when the borrower has poor credit.
Not likely. You would think it makes sense because you are more likely to meet a lower payment. However, the way mortgages are financed makes this a terrible deal for the bank. They cannot sell your new loan when the borrower has poor credit.
References :
http://loanrefinanceadvice.com/refinance-programs/ has everything you need to know about refinancing, refinance rates, and what steps to take if you are interesting in refinancing.
References :
http://loanrefinanceadvice.com/refinance-programs/