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Can you get a fixed rate mortgage if you refinance your mortgage after bankruptcy?
Yes, if your credit score is OK, absolutely. Waiting 2 years after it's discharged may be a requirement.
As long as your credit score is above 500 and your debt ratio isn't too high, you should be able to do that without a problem. Keep in mind that the rates on fixed mortgages are higher than those on ARM's. If you are just out of a bankrupcy, it may not be a bad idea to get into an ARM until your credit gets better.
What else can I help you with?
Can you refinance an adjustable rate mortgage?
Yes, you can refinance an adjustable rate mortgage by converting it to a fixed rate mortgage or by refinancing to another adjustable rate mortgage with more favorable terms.
What is the advantage of a convertible adjustable-rate mortgage?
This type of mortgage vehicle gives the borrower the benefit of a low initial rate with the option to refinance to a fixed-rate mortgage at about half the typical refinance cost.
Can you refinance an adjustable rate mortgage (ARM) loan?
Yes, you can refinance an adjustable rate mortgage (ARM) loan by converting it into a fixed-rate mortgage or by refinancing to another ARM with more favorable terms.
What is the current refinance mortgage rates?
If you are refinancing your mortgage for a 30 year fixed rate you can expect a rate of about 4.250% and if you are refinancing your mortgage for a 15 year fixed rate you can expect a rate of about 3.375%. Of course, this will vary with credit rating, current mortgage standing, etc.
What are some reasons to refinance a home mortgage?
Some reasons for refinancing a mortgage is lowering mortgage rate, change in family composition, purchasing other properties for investment and switching the mortgage type from Adjustable-Rate Mortgage (ARM) to a fixed-rate mortgage.
Can you refinance an adjustable rate mortgage?
Yes, you can refinance an adjustable rate mortgage by converting it to a fixed rate mortgage or by refinancing to another adjustable rate mortgage with more favorable terms.
What is the advantage of a convertible adjustable-rate mortgage?
This type of mortgage vehicle gives the borrower the benefit of a low initial rate with the option to refinance to a fixed-rate mortgage at about half the typical refinance cost.
Can you refinance an adjustable rate mortgage (ARM) loan?
Yes, you can refinance an adjustable rate mortgage (ARM) loan by converting it into a fixed-rate mortgage or by refinancing to another ARM with more favorable terms.
What are some common mortgage refinance options?
There are a number of common mortgage refinance options available to borrowers. These include: fixed interest rate refinancing, and variable rate refinancing.
What is the current refinance mortgage rates?
If you are refinancing your mortgage for a 30 year fixed rate you can expect a rate of about 4.250% and if you are refinancing your mortgage for a 15 year fixed rate you can expect a rate of about 3.375%. Of course, this will vary with credit rating, current mortgage standing, etc.
What are some reasons to refinance a home mortgage?
Some reasons for refinancing a mortgage is lowering mortgage rate, change in family composition, purchasing other properties for investment and switching the mortgage type from Adjustable-Rate Mortgage (ARM) to a fixed-rate mortgage.
I would like to refinance my mortgage. I have a lender who will give me a 5.75 fixed interest rate on a 15 year mortgage. If this mortgage is sold can the interest rate be changed?
If it's truly a fixed-rate mortgage contract, then no, the rate won't change if the mortgage is sold to another lender. Check your contract for any gotcha clauses, though.
What risks are involved in if I refinance via mortgage loan?
Va mortgages are typically fixed rate mortgages. If you refinance you run the risk of getting into a variable rate contract with a balloon payment.
What is the current rate for a mortgage refinance?
The current rate for a mortgage refinance varies depending on factors like the lender, the borrower's credit score, and the loan term. As of now, rates are generally around 3 to 4 for a 30-year fixed-rate mortgage refinance. It's recommended to shop around and compare offers from different lenders to find the best rate for your specific situation.
What are reasonable refinance rates for a mortgage?
Reasonable refinance rates for a mortgage is quite complex. It actually depends on what type of mortgage you wish to lock into. For example, a 5 year variable rate can start as low as 2.5%, where as a 5 year fixed rate can start as low as 3.79%.
What exactly is it to refinance a home?
To refinance a home is to take out another mortgage to replace an existing one. A few reasons for doing this would be a lower interest rate, choosing a fixed-rate mortgage as opposed to a flexible rate or increasing the time you have to pay back your loan.
What should one know before they refinance a home?
Before a homeowner refinances a home, they should consider how much less a mortgage payment will be after a refinance. They should also consider the differences between a fixed rate mortgage and an ARM mortgage rate. These factors can dictate how long it will take to repay a mortgage.
