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How is a mortgage refinancing rate calculated by financial institutions?
Wiki User
∙ 10y ago
There are many factors that go into calculating the rate offered in a mortgage refinance. One is the risk involved in lending, in other words, the prospective borrower's credit score and employment history, debt to income ratio, and loan to value ratio of the loan as well as the presence or absence of mortgage insurance and its amount are taken into account. Another is the type of program, whether the rate is adjustable or fixed and any other features of the program such as nontraditional payment terms. The rate at which the bank obtains the ,money for the loan is also a factor, in some cases this is based on the US Prime Rate and in others LIBOR. The bank will add a percentage to this amount in order to maintain a profit.
Wiki User
∙ 10y ago
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Where might one go to obtain quotes when refinancing a mortgage?
Getting a quote on refinancing your mortgage is as simple as calling Lending Tree, checking local financial institutions, and applying for a lending agent.
Where online can one learn about home mortgage loan refinancing?
The best place to learn about home mortgage loan refinancing is through one's financial institutions website. Many states also have information available on their official websites, that is specific to their residents.
Who could give advice on refinancing a mortgage?
There are many different kinds of financial professionals out there that provide advice specific to their field. If you are interested in learning more about refinancing a mortgage, visit a loan officer or a mortgage officer.
Where can one find mortgage refinancing in Jacksonville?
Mortgage refinancing in Jacksonville can be done at any local bank. Refinancing can also be done at mortgage refinancing specific places such as Jacksonville Mortgage and American Equity Mortgage.
Where can one learn more about refinancing their mortgage and home loan?
There are a number of financial websites where one can learn about refinancing their mortgage and home loan. One can find information on 'The Federal Reserve Board' and 'Bankrate'.
Where might one go to obtain quotes when refinancing a mortgage?
Getting a quote on refinancing your mortgage is as simple as calling Lending Tree, checking local financial institutions, and applying for a lending agent.
Where online can one learn about home mortgage loan refinancing?
The best place to learn about home mortgage loan refinancing is through one's financial institutions website. Many states also have information available on their official websites, that is specific to their residents.
Among the banks and financial institutions today, which one offers the best interest rate for refinancing a home mortgage?
In my experience, banks have usually been the most helpful in refinancing home morgages. I have had positive experiences with both Bank of America and BB&T.
Who could give advice on refinancing a mortgage?
There are many different kinds of financial professionals out there that provide advice specific to their field. If you are interested in learning more about refinancing a mortgage, visit a loan officer or a mortgage officer.
Where can one find mortgage refinancing in Jacksonville?
Mortgage refinancing in Jacksonville can be done at any local bank. Refinancing can also be done at mortgage refinancing specific places such as Jacksonville Mortgage and American Equity Mortgage.
Where can one learn more about refinancing their mortgage and home loan?
There are a number of financial websites where one can learn about refinancing their mortgage and home loan. One can find information on 'The Federal Reserve Board' and 'Bankrate'.
When is mortgage refinancing not a good idea?
Mortgage refinancing is not a good idea when you have had your mortgage for a long period of time.
What are some things one may want to consider when refinancing their mortgage rate?
There are several factors one might consider when refinancing a mortgage. Speak to the bank or a financial expert for advice on which deal would suit best.
Where can a home mortgage refinancing lender be found?
If someone is interested in home mortgage refinancing, it is important to find a home mortgage refinancing lender. One can be found by going to mortgage calculator websites or mortgage review websites.
Where can you find Mortgage refinancing in Jacksonville?
There are several companies that offer Mortgage refinancing in Jacksonville. Some of these are: Jacksonville Mortgage, American Equity Mortgage, and Florida Mortgage.
What does it mean to refinance in California?
California refinancing is mortgage rates that are only in California. You can contact banks and financial institutions there for their rates on refinancing your mortgage for your home or business.
Where can one get mortgage refinance costs?
To get mortgage refinancing costs, one needs to speak to a representative of the current mortgage company. Alternatively, one should seek advice from a financial adviser.
