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How long should you wait to refinance an auto loan to lower the interest rate and are there better lenders to help with this?
Wiki User
∙ 17y ago
Timing required to refinance doesn't usually matter. Used car loans are a little higher generally. Check with savings and loans, credit unions, banks and others to see if you can get an improved rate. They will look at your credit rating, so make sure that you are paid up on time and that you do not owe more than your income can justify.
Wiki User
∙ 17y ago
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When can home loans be refinance?
Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.
Should you refinance your mortgage if your current rate of interest is 15 percent?
If your current rate of interest is 15%, whether your refinance your mortgage is something you should discuss with your bank or financial advisor. If you think you could be getting a better rate, you can take it up with them.
Are Quicken Loans mortgage refinance rates better than most current refinance rates?
Quicken Loans does offer competitive refinancing on mortgage rates. There may be companies with lower rates, however, so you should investigate other lenders.
When should one refinance their mortgage?
One could refinance their mortgage when the interest rate decreases. However, one must also think the amount they have to pay to refinance their mortgage.
Will lenders allow someone to remortgage their home if the credit is bad?
There are lenders who specifically lend to borrowers with blemished credit but the homeowner will typically pay higher interest rates and fees. Borrowers should attempt to improve their credit before trying to refinance by lowering debt and clearing up any inaccuracies that may appear on their credit report.
When can home loans be refinance?
Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.Loans can be refinanced if the mortgagor qualifies for a refinance and has adequate equity in the property. You need to consult with some lenders to determine if you qualify and if it would be in your best interest. The fees associated with refinances can be quite high and should figure in to any decision making.
How should one choose a lender to refinance?
There are many websites and resources that can offer someone information on lenders to refinance with. The best way to find this information is a quick search for some reviews on lenders.
Should you refinance your mortgage if your current rate of interest is 15 percent?
If your current rate of interest is 15%, whether your refinance your mortgage is something you should discuss with your bank or financial advisor. If you think you could be getting a better rate, you can take it up with them.
Are Quicken Loans mortgage refinance rates better than most current refinance rates?
Quicken Loans does offer competitive refinancing on mortgage rates. There may be companies with lower rates, however, so you should investigate other lenders.
When should one refinance their mortgage?
One could refinance their mortgage when the interest rate decreases. However, one must also think the amount they have to pay to refinance their mortgage.
Will lenders allow someone to remortgage their home if the credit is bad?
There are lenders who specifically lend to borrowers with blemished credit but the homeowner will typically pay higher interest rates and fees. Borrowers should attempt to improve their credit before trying to refinance by lowering debt and clearing up any inaccuracies that may appear on their credit report.
Can Bank of America refinance your mortgage?
Yes Bank of America can refinance your mortgage. You should contact them and see what rates are currently available and choose an option in your best interest.
When You Should Use A Refinance Calculator?
Many consumers struggle with knowing the best time for them to refinance their loans. Using a refinance calculator about every six months can help you decide if refinancing is in your best interest. It is a good idea to refinance a mortgage or auto loan if the interest rate you will be charged is significantly lower than your current rate. Refinancing helps to lower your monthly payment, but people are often charged fees when they refinance, so it should not be done unless the payment will be significantly lower after any fees are paid.
I just claimed chapter 13 what should I be aware of when trying to refinance my skyrocketing interest rates on my 1st and 2nd mortgage loans?
Very few lenders will refinance someone in Chapter 13, those that do will have fees and rates so high it wont help. Best thing to do is contact your current lender(who you pay your mtg. to) and discuss the situation. No lender wants to end up in a forclosure and most will try to work something out with you to avoid it. The sooner you contact them the better if you get behind in payments this limits the available options.
Refinance vacation home to pay off mortgage on primary residence?
you should do just th eopposite. Refinance the primary and payoff the vacation home. Primary home interest is 100% tax deductable. Vacation home interest may not be depending on income level.
How can one begin to refinance a loan rate?
Refinancing a loan is a way to lower one's interest rate and monthly loan repayment, but it isn't always a good idea. One should speak to a loan officer for advice on if one should refinance.
Taking Advantage of Refinance Mortgage Companies?
With interest rates as low as they are, now may be an excellent time to refinance your mortgage. While many mortgage lenders have tightened their underwriting standards, there are still many refinance mortgage companies that are willing to give out a refinance mortgage. To get your mortgage refinance through one of these companies, there are various underwriting criteria that should be met. The first piece of underwriting criteria that should be met in order to have your mortgage refinanced is to have a good credit score. While in years past many mortgage refinance companies were willing to refinance a mortgage for anyone with a credit score over 620, the high rate of default for people with bad credit has tightened their underwriting. Today, getting a better interest rate from one of these refinance companies will require you to have a credit score of 740 or better. However, those with scores between 680 and 740 could still be approved for a mortgage refinance, but they will pay a higher rate. The second piece underwriting criteria that should be met in order to have your mortgage refinanced is to have a sizable down payment. When underwriting standards were looser, many borrowers were able to get mortgage loans with as little as 0% down. Today, mortgage refinance companies will require at least 10% equity in the home. Since housing prices have fallen across the country, you may have a hard time getting a mortgage refinanced even if you used to have equity in your home. To get approved for the refinance, you may need to put forth another down payment. The third piece underwriting criteria that should be met in order to have your mortgage refinanced is to have a low debt to income ratio. A debt to income ratio is a measurement of your monthly housing debt divided by you monthly gross income. In years past, a person could be approved for a mortgage if their debt to income ratio was less than 40%. Due to the tightened underwriting standards, the debt to income ratio requirement has dropped to around 30% for most lenders. This may require you to purchase a cheaper home.
