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Because new borrowers may have no history of making payments while in a re-fi the bank knows the borrower made their payments reliably.

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12y ago

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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.


What are the differences between refinance rates and purchase rates?

Refinance rates are the interest rates for replacing an existing mortgage with a new one, while purchase rates are the interest rates for buying a new home. Refinance rates may be higher or lower than purchase rates depending on market conditions and individual financial factors.


Can I refinance my mortgage rate?

Currently mortagage rates are running less than 5%. If you have a good credit rating you should be able to apply for a refinance of your existing loan and get a lower rate.


How do I refinance out of an adjustable rate mortgage with high interest rates when my propety value is less than the mortgage owed?

You cant. You cannot refinance a property for more than it is worth.


When should you refinance your mortgage?

You should consider refinancing your mortgage when interest rates are lower than your current rate, you plan to stay in your home for a while, and the cost of refinancing is worth the potential savings in the long run.


Are Chicago mortgage rates lower than Los Angeles mortgage rates?

Yes, Chicago mortgage rates are lower than Los Angeles mortgage rates because everything in Los Angeles costs more than Chicago; but on the other hand minimum wage is more in LA too.


Is now a good time to refinance my mortgage?

The decision to refinance your mortgage depends on factors like interest rates, your financial situation, and how long you plan to stay in your home. It may be a good time to refinance if interest rates are lower than your current rate and you plan to stay in your home long enough to recoup the closing costs. It's important to carefully consider your individual circumstances before making a decision.


Is It Time To Refinance?

The goal behind refinancing a mortgage is receive lower interest rates and to have the best lender possible. By following a few mortgage refinance tips a person can do just that. Knowing when to refinance is probably the most crucial part of successfully refinancing a mortgage. For some people refinancing proves to be beneficial, for others no matter when they choose to refinance it is not advantageous. To help a person decide if and when they should refinance they should consider the following: -How long they plan to live in the home -Whether or not the interest rate will be lower if they choose to refinance -How much the closing costs will be for financing their mortgage -How much equity they have built up in their mortgage -Deciding if they plan to do a cash-out refinance In most circumstances if a person does not intend on living in a home for more than a few years refinancing will probably not be beneficial.


Who can I call for debt consolidation on my credit cards?

If you are a homeowner, I would suggest contacting your mortgage company to see if you can refinance and cash out using your equity. Interest rates are much lower on mortgages than on credit cards. Megacarl.


Where can one go for a quote to refinance a mortgage?

If you wish to refinance your mortgage you are best to go to the bank you took out the mortgage with. They will be able to help you and are more than likely to refinance your mortgage for you.


Where can you find the best rates for mortgage?

Mortgage rates can change as quickly as the stock market, so generally it more of a when than where. Some companies with lower overhead, like mortgage brokers, can offer lower rates than your typical banks, but you have to shop around to find you best deal. A great place to start it so search online for sites that show current mortgage rates, like www.currentmortgageratez.com.


Is cash out refinance a wise choice?

A cash out refinance is a wise choice only if you can get it for a lower interest rate than your current mortgage. Otherwise, a home equity loan would be the wiser choice.