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Latest Mortgage Refinance Rates News

mortgage refinance rates

Mortgage rates are hitting 50 year lows and there's a huge rush to refinance. But it's not right for every homeowner. A lot depends on what you're paying now, your break even point and if you plan to stay in the home. How long you've been paying on ...

Falling Mortgage Rates Appeal To Homeowners - KELOLAND TV

PORTER, Maine -- In this tough economy, News 8 is committed to help people save, stretch and protect their money. Mortgage rates continue to hover around 5 percent, the lowest in decades. But is this the right time to refinance? Due to the low rates ...

Low Mortgage Rates Have Many Refinancing - WMTW

CHICAGO - Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in rates that haven't been this attractive in decades. "With interest rates hovering around 5 ...

Don't miss the refinance window - HometownAnnapolis.com

With mortgage rates dropping to the lowest point in 37 years, homeowners are heading to lenders to refinance their loans. Jeri Benner of Mason Dixon Funding said her firm did 400 mortgages in December; about three-fourths of those were refinancing ...

Borrowers seeking to refinance may face challenges - Frederick News-Post

The mortgage interest rates have gone down again. Does that mean that refinancing is the best thing you can do? It’s a dirty little secret that most of the homeowners who are under water got there through refinancing, not by borrowing for their ...

The rush to refinance - Boston Globe

While mortgage rates continue to fall, it may or may not be the right time for you to refinance. Tennessee Bank and Trust loan officer John Black said he has seen a dramatic increase in the number of people refinancing their homes. Typically he has ...

Mortgage rates continue to fall - WKRN

It happens every Monday, we talk about your mortgage with Carl Delmont from Freedmont Mortgage. And this week there is a lot that Carl and Megan talked about on Good Morning Maryland @ 9. From economic news that could influence mortgage rates, to how ...

Mortgage Monday: Lower Rates in January - ABC2 News

WASHINGTON - Rates on 30-year fixed-rate mortgages fell to a record low for the second straight week, causing refinancing applications to surge to the highest level in more than five years, a month after the Federal Reserve pledged to channel ...

Mortgage rates fall to record low - Baltimore Sun

(ABC 6 NEWS) -- Resolve to save money in 2009. Now, you can. Just this week mortgage giant Freddie Mac says the cost of borrowing has slid more than 1 percent from this summer, averaging 5 percent. That's the lowest recorded rate since the survey ...

Homeowners Rush to Refinance - KAAL-TV

As the new year starts off with an uncertain economy, homeowners are shearing their mortgage payments by taking advantage of lower interest rates. With 15-year fixed-rate mortgage rates down to 5 percent at many lenders in the Wichita area, banks are ...

Open Question: Should I refinance into a 15 year of 30 year mortgage?

I can refinance into a 15 year mortgage for an increase of $75 per month, or into a 30 year mortgage and save $261 per month. I am less then 3 years into my original 30 year mortgage. This is because I am paying PMI right now, and my rate is 6.375%. Here are my loan options: 15 year, no PMI, 4.375% rate 30 year, ~$90/month PMI with a $3300 upfront PMI funding fee. 5% rate. This brings the effective rate to about 5.85% compared to the 15 year mortgage. With the 30 year mortgage I will save about $375 a month over the 15 year mortgage. I currently save about 25% of my monthly paycheck into various accounts (Roth 401k, Roth IRA, Stock Options, Savings, etc), so the $75 isn't necessarily difficult for me as I can adjust. What would everyone recommend? I know I could earn a return greater than 6% long term on invested money (especially with this down market turning around in the next few years), but I could own my house straightup, guaranteed in 15 years, and the interest rate is 1.5% lower. I also understand the income tax implications, I am in the 25% tax bracket. Single male, with only student loan debt and a mortgage. Thoughts? more

Open Question: what about mortgage refinancing nowadays?

I bought several houses in my time and therefore thought I was an "expert" on getting a good mortgage. Now I'm looking for a straight answer on the best refinance rate, and a mortgage broker says pricing on loans includes factors that "were not there even one year ago", such as: FICO score, loan to value, loan amount, occupancy, etc." Can a mortgage rate vary according to my FICO score (or would I just be rejected if my score is too low)? What's going on? Why is it so hard to get a mortgage rate out of a broker or a web site? btw, I have great credit, 80% equity, live in the house, and want to re-fi $117k, in NC. more

Open Question: Refinancing home jointly with wife?

What are the pros and cons of having my wife on the new (refinanced)mortgage? Is the interest rate typically lower when there is a co-signer? Anything else to look out for? more

Open Question: Which Mortgage Plan should I do...20 year or 30 year?

20 year or 30 year mortgage. ? I just got my mortgage interest rate quotes for refinancing. I have Excellent Credit! I am 30 years and single. 30 year fixed @ 5% payment $805.23 20 year fixed @ 4.875% payment $980.02 If I purchase a point 30 year fixed @ 4.75% Payment $782.47 20 Year Fixed @ 4.625% Payment $959.53 I plan in staying at this residence for a long time. Probably own it for the life of the loan. The 15 year was about $1150 a month in payments so I am really focusing on the 20 year considering it is only 177 more a month than the 30 year. I can afford all of them...and I am thinking also if I do the 20 year, I can make 1 extra payment per year which can cut down my years on the loan.... Which one should I do??? more

Open Question: Home refinancing to consolidate debt?

I know there are a lot of factors to consider, but a)what are the costs associated with home refinancing, and how much are they, approximately? (e.g., closing costs) b) Do you need a lot of equity in your home for it to be worth it? c) Can you roll in about 25K credit card debt, and be worth it? I have a 30 yr. fixed mortgage with 1 pt. (I have 25 years left). I have about 225K left to pay, and currently have a 5.75 finance rate. Currently in my area, finance rate are running 5 - 5.3%. Would it be worth refinancing in this situation considering costs and getting rid of my debt? Any input welcome... thanks! more

Open Question: Can I refinance just my 1st mortgage?

I want to refinance just my 1st Mortgage. I have a 5/1 Interest only loan. Resetting 09/2011. I want to refinance only my first mortgage from an ARM to a 30 year fixed. (It's currently $608K) I want to keep my second as is ($152K ARM) Due to declining home values, I have very little to no equity in our home. However, I just want to refinance the 1st (which would be plus or minus about 80% of my current home value). I have both loans through Wells Fargo. WF say they can't do anything unless I have 10% equity. So I'm looking around for ideas. I have: Good credit. No car payments. No student debit. No credit card debt. Any thoughts or other ideas. I'm happy to keep my 2nd as is. Just want to get the $608K fixed at a low rate. Thanks more

Open Question: I want to refinance just my 1st Mortgage?

I have a 5/1 Interest only loan. Resetting 09/2011. I want to refinance only my first mortgage from an ARM to a 30 year fixed. (It's currently $608K) I want to keep my second as is ($152K ARM) Due to declining home values, I have very little to no equity in our home. However, I just want to refinance the 1st (which would be plus or minus about 80% of my current home value). I have both loans through Wells Fargo. WF say they can't do anything unless I have 10% equity. So I'm looking around for ideas. I have: Good credit. No car payments. No student debit. No credit card debt. Any thoughts or other ideas. I'm happy to keep my 2nd as is. Just want to get the $608K fixed at a low rate. Thanks more

Open Question: Refinance Loan I need to reduce my mortgage payment?

I need to know the best mortgage company that will give me a good deal to refinance my mortgage TO FIXED RATE because my adjustable rate has been increased. also i don't have any money for closing cost so i will need a mortgage company that is zero closing cost or they will add the closing cost to the life of the loan, i need this help today.ThanksMY CREDIT SCORE IS 651, THE HOUSE WORTH 235,000 BUT I BOUGHT 210000 IN DEC 2006. more

Open Question: Mortgage Refinance Question?

I bought a house about a year and a hlaf ago with a fixed interest rate for 30 years. I locked in at 6.125. Can I refinance this early since it looks like interest rates may fall to 4.5 with Obama coming into office. Do I need more equity built up in order to do this? Thank you. more

Open Question: How easy is it to get a mortgage lender to agree to a short sale and waive the remaining debt?

I have two homes with one mortgage on each (same lender). One home is now in negative equity and has a high interest rate on the mortgage. Even though the bank refinanced the home only two years ago as an 80/20 loan, they will not allow me to refinance now. I thought about renting until the market get's better but I can not cover all of the costs. more

Open Question: MORTGAGE ADJUSTABLE RATE QUESTION?

We bought a house in december 2006 with adjustable rate, we plan to refinance between march and april because we are planning to use our tax return to pay our credit card debits so that our FICO score can be increase so that we can take advantage of the current mortgage interest rate. But today we receive a mail that stated that our monthly payment has been increased from 7.7% to 10%, which make our monthly payment from $1500 to $1800, that is $300 increment need advice on what to do, how to communicate with the bank so that the new increase will be freeze for the next 3 month. please help and no information is too much. Thanks more

Open Question: Mortgage question regarding Adjustable rate?

Open Question: What to do when my home value is less than the principal of my mortgage?

I live in Florida and have a 7 year ARM, and I was interested in re-financing to a 30 YR fixed rate. However, my house is now worth $90K LESS than the outstanding principal amount on my mortgage, so of course, my bank will not let me re-finance. What are my options, if any? Is there a gov't program or any new law that will let me refinance based on the new value of the house? more

Open Question: Do i need to have 20 % down when i refinance from FHA to Conforming and does the down amt from FHA counts?

Hello everyone. I am purchasing a house but the loan I could get was FHA because i did not have 20 % down and not enough credit for conforming loan. I could put 15 % down on the house but my question is whether i should do that or go with the minimum of 3 % because with FHA loan you pay premium mortgage insurance 1.5 % upfront and .5 higher interest rate. Lets say if i build a better credit in 6 months to qualify for a conforming rate and refinance the house from FHA to conforming do i need to have 20 % down for conforming loan or should i put the money to FHA loan and that 15 % is counted as home equity. All I need is 5 % after that right or do i need to have 20 % in cash? I asked this question once but mostly i got people trying to get me to contact them for loans. I dont need that. Only respond if you know the answer.Nop I cant get a conforming right now. I could come upwith the 20 % but not enought credit. Please answer about the amount i should put on FHA loan. Would the 15 % count when i refinance to confroming to make 20 % or do i need to hold the money so i can have them for the conforming loan in about 6 months when i build up my credit.I have no choice FHA is what i am getting right now. Please focus on the question I need to know about the % amount whether it is better for me to put down 15 % on the fha or should i put down 3 % and save the money for the conforming when i refinance. I would put 15 % if the money counts toward the refinance to conforming in the future to make 20 %. total after adding 5 %. more

Open Question: 30 years Mortgage interest rate prediction?

Looking for an expert in the market that thinks where the 30 yrs. mortage rate trend is for the next few months. I'm looking to lock a rate for refinance but don't know what the rates trends will be a month from now. thanks more

Open Question: is a rate of 4.875 percent plus "paying 1.25 points" considered a good rate currently for someone with a ?

credit score of 794? i am refinancing on a 30 year mortgage that was originally 6% and no points. the mortgage is 270,000 on a home currently worth 400,000. i make 200k a year. is this a good deal (4.875 percent plus pay 1.25 point) for someone in my situation? more

Open Question: I am considering refinancing my mortgage and had a question?

I bought my house 13 months ago and have a 30 year fixed at 6.75%. I know rates have come down a lot and am thinking of refinancing. If I decided to, would I have to start again at 30 years or can they just refinance the current rate and I still have 29 years left? My mortgage is for 413k, so if I had to start again from the beginning even if I had the rate cut, it would still add 20k or so more in the long run in payments correct? more

Open Question: How to refinance home gone down in value since purchase.?

Hi, I would appreciate help from this community relating to refinancing of home that has gone down in value since original purchase in 2006. Current rate: 6.6% 30 yr fixed. Bought home for $275,000 Down payment of $ 30,000 1st mortgage amt owed $216,000 2nd mortgage amt owed $ 27,000 Original price $275,000. New value of home is approx in the range of $255,000 to $265,000. I would like to lower my payments and get a new lower fixed rate 30 yr mortgage. I am looking for someone to help me understand what happens if home is lower in price since original purchase when i try to go refinance. Any advice is appreciated. Thanks. more

Open Question: Should I refinance my mortgage and home equity loan together now, wait, or not at all?

I have a first loan of 69.5k on a 20 yr at 5.75 percent with about 16.5 years left. The second home equity loan has 13.7k on a 15yr at 8.9 percent with about 13.5 years left. I checked on refinancing and they came back with a 15 year FHA at 5 percent (no buy down points included) with a balance of about 90k. My house is worth about 110k in Oklahoma. There is almost 7-8k added to my mortgage balance! They also added some MIP fee of over 1k, which I thought was for loans with a loan to value of less than 80 percent. l I lose about a year and a half and my interest rate drops 0.75 percent and 4.9 percent respectively, but I add a lot of principal to my mortgage. Please help with some reasoning. Thanks. Is this a good deal or should I keep shopping? I have great credit. more

Open Question: Do I need to have 20 % down payment when I refinance from FHA loan to conforming ?

Resolved Question: Should we refinance our mortgage?

We were thinking about refinancing. Should we wait? Our rate is 5.65%. Isn't it below 5% now? more

Voting Question: Home loan or mortgage question is it worth refinancing?

I purchased a townhouse back in 2005 and i have two loans on it one for 490,000 fixed for 10 years at 5.75% but its a 30 year loan., and a smaller loan for 54,000 dollars at a variable rate. Obviously the value of my house has dropped. But i've noticed some companies offer refinance rates at about 4.5%. If i put down about 10,000 and try to refinance will i be able to get that 4.5% fixed for 30 i guess. I have perfect credit and have never missed a payment since ive purchased the house. Also is it worth refinancing for 1%.? Thanks Those of you in the finance business what would you suggest for me? more

Voting Question: can i refinance my mortgage while collecting unemployment?

i have a fixed 6% 30 yr mortgage and am collecting unemployment. can i refinance now? i told my credit card company i was unemployed and they upped my interest rate. will the bank do the same? more

Voting Question: Economic concerns regarding my mortgage?

I still owe 10 years on my 15 yr fixed loan at 4.875 % home mortgage, my domestic partner recently lost her job. I am concerned about the security of my present job. The issues, I owe almost 50,000 currently, I have prepaid 6 month s of payments ahead, and paid additional principal payments last year. I don't have any credit card debt, or car payments. The big question is, should I concentrate on making additional payments to prepay the mortgage though the end of 2009 first, then make additional payments on principle? or should I simply bank and save whatever I can, in the case I am unemployed? I have thought of refinancing to lower the minimum monthly payments, however the current rates are higher than I presently have, and I have an excellent fico score. So that doesn't really seem to be an option either. At one time I had thought of transferring th mortgage to a credit card at a 1 or 2% interest rate, however this isn't an option any longer. your thoughts and advise are appreciated! more

Voting Question: Can I use my rate lock fee to pay for an appraisal when I back out of a mortgage refi loan before closing?

I have started the process to close a refinance with a company. I have paid $600 in nonrefundable fees: $250 for the application fees and $350 fee to lock the rate. They sent an appraiser out (which I have not yet paid for), and now I have decided not to close with this company, for various reasons. I assume they will go after me for the $375 appraisal fee, but can I deny that charge, saying that the $350 rate lock fee should go towards my appraisal (and I'll agree to pay the remaining $25)? more

Voting Question: Should I Refinance? 7.5%?

I own a home with a mortgage of 56,000. Currently a rental property and my current interest rate is 7.5%. I was told that no one would refinance anything under a 100k and if they did there would be huge fees. I plan on keeping the house till paid off.currently worth about 135,00, but have a line of credit of 27,000. more

Voting Question: I have a high debt to income ratio. Are there any mortgage lenders that I could refinance with?

I currently have a $258k mortgage at 6.5%. My place is worth approximately $350k, so I have about $92k in equity. My debt to income ratio is around 63%. With rates around 5%, I think it would be worthwhile to refinance; however, I was told that my debt to income ratio is too high. My credit score is around 760 and I have never missed any mortgage or bill payments. My debt is largely due to student loans, car payments, credit cards, and depreciation on a rental property that I have. I am actively paying down my debts, but am disappointed that I have not found a lender to refinance with despite good credit, and no missed payments. Are there any lenders that anyone knows of that might work with someone with high debt to income, but good credit? If I get the opportunity to refinance, it will allow me to pay down my debts that much quicker. Thanks for any advice. more

Voting Question: what is the current FHA refinancing rate for streamlined mortgages?

Voting Question: how do i refinance my house when I owe more than it is worth?

Our Adjustable rate mortgage is about to "adjust". Unfortunately home values have plummeted in our area. We want to refinance to a fixed rate loan but wonder if it's possible when our current loan balance is more than what our house would be appraised for. more

Resolved Question: Can you do a streamline refi on a USDA Mortgage Loan?

We have a USDA guaranteed rural mortgage backed loan serviced through Countrywide. With the interest rates going down, we would like to refinance to take advantage of the lower rates. I know you can streamline refi an FHA loan, but how about a USDA loan? I've tried searching online, but was hoping someone in the industry might have a better idea. more

Voting Question: Anyone familiar with short refinance options?

A company has contacted me regarding a short refinance option. Supposedly I can refinance my home for the current value not the value that I currently owe a mortgage for. I would not have to pay the difference (which is about 100K). I am currently stuck in a ARM with an interest rate of 10.125 based on a 6 month LIBOR rate! And my mortgage is being serviced by OCWEN, who has numerous complaints on ripoff report website. Any advice?I am current with my mtg payments. Why is it that there are no programs available for people who are paying on time? more

Resolved Question: Doesnt this refinance deal sound horrible to you?

We bought our home last year for 148,000. We now owe 146k and the home is worth 158k. I contacted our mortgage broker about doing a refinance since rates are dropping. We have a 6.6% rate that she can get to 5% but the new loan would make our balance 156K. I'm not a mathmetician but to me that means we would be paying $10k just to lower our monthly payment by about $150. So not worth it to me and I kind of feel she's trying to jerk us. Thoughts? Is this normal to have fees that high? more

Voting Question: Can I get refinanced?

I am currently in school working on a masters degree. I have put much of my tuition on credit cards. I currently have about 69000 on credit cards. Most of it is at interest rates between 1.9% and 4.99%. My house is worth about 300,000 and I have lived in it 2.5 years. I have a mortgage of $123,000. My credit score is about 780. I am current on all obligations. Because of my school, I have only been able to work part-time so my family income will probably be 24,000 for 2008. I graduate in May 2009 and will be able to get a full-time job at that time making about 35000/yr. We have other income of 6000 year and my wife makes about 10000yr. I have been at my work place 1 year 7 months. What are the chances of me getting refinanced after I graduate and get full-time work. What do I need to do to get in position to refinance. Finally, if I am going to refinance and pay off credit cards, is our my credit card debt included in my debt to income ratio or do they figure debt-to income with the consideration of me paying off the credit card debt. Thanks MJ more

Resolved Question: Refinance from 30yr to 15?

My house is worth $185,000.00 with a 30 yr fixed rate mortgage at 6.625%.My monthly payment including town taxes is about $1340.00. I owe $125,000.00 on that one. It looks like I can get just below 5% on a 15yr fixed rate in the coming weeks. Should I do it? What would be my new monthly payment roughly based on 5% rate at 15 years, including the town taxes,which are already escrowed in my 30 yrs fixed loan? more

Resolved Question: where can I find refinance investment rates not from banks or bankrate. I am interested in who sets the rates ?

Mortgage rates more

Resolved Question: Refinancing in Chapter 13?

Im currently in Chapter 13 and would like to refinace a ARM at 10% into a fixed rate. Should I start looking for professional mortgage brokers now? or should I wait until I have been discharged? I have a monster(Homeq) for a mortgage servicer. If I could just get from under them (homeq) I would feel even better for sure. Any advice is appriciated. Eddie. more

Resolved Question: Should I refinance for 15 or 30 years?

My current mortgage is a 30-year fixed at 6.25%. I met with a mortgage person at my local bank today and got a good faith estimate for a refinance. I can get a 30-year fixed at 4.875% or a 15-year fixed at 4.75%. (my credit score was really good, it even surprised me) The way I see it, it's probably better to go with the 30-year. That way I can have lower required payments, and just pay down the principal when I am in the position to do so (which will be often if I have lower payments). The slightly higher interest rate for the 30-year mortgage only costs me $126 extra in interest for the first year and $223 the 2nd year if I only make the minimum payments, but I'll be making extra payments. I'm pretty responsible and have a history of paying loans off early. What would be the benefit of going with the 15-year? It can't be the lower interest rate...It's only a 1/8 of a point lower. It's not that I'll pay off the house faster...I'll make extra payments throughout the term of the loan. What do you think?Also, I don't plan on being in my house for more than 5 years. more

Voting Question: Refinancing home loan?

A friend and I have purchased a house about a year ago. We went in 50/50. We were informed that our interest rate has lowered and we are eligible to refinance the loan. My question is, I would like to move back home and allow my friends girlfriend to take my place on the mortgage so I can be free of the financial burden of the house and move, first, is this an actual option for me, and secondly, is there a buyout payment that I should be asking for? Thanks, hope I made sense. more

Resolved Question: 30 year fixed rate mortgage but ins and taxes are killing me. Any advice?

In June 2006 I bought a house with an 80 / 20 loan. The 80 is @ 6.65 % and the 20 is at 8.1 %. Both rates are 30 year fixed. Also I gave $9K down including closing costs. My insurance and taxes are in escrow and included in my mortgage payment to Wells-Fargo. I live in Miami. The price of the house was $229,500 but the value according to Zillow.com is $185,000 and sinking!. My initial mortgage payment was $1800 / month but has now ballooned to $2232 / month! I purposely avoided an ARM because of the eventual increase but even a fixed rate still increases due to taxes and insurance! Has anyone experienced this? How did you handle it? I can't refinance because I owe more than what the house is now worth. Plus it's not really the banks fault it's the county and states. I can probably find an apt. as big as my house for $1000 less per month (probably with a view of the ocean). I am seriously considering walking away. Does a foreclosure only damage your credit? Any advice or thoughts?Last year the taxes & insurance were about $3700. I can afford the payments, but I did not anticipate a $400 / month increase in less than 3 years. And it's been going up every year. I have no reason to believe that it's going to stop. Eventually I won't be able to afford it. I'm wondering what's a common increase for my area and what I should have planned for?Correction the taxes alone were $3055 for 2008. more

Resolved Question: I am deployed in iraq how would I go about refinancing all the way over here?

Is it possible for me to refinance through the phone or on the internet without actually being in the US? My current mortgage rate is 5.87% and I know that I can get lower than that now with interest rates being as low as they are right now. I am in iraq though and wont be going home back to US for awhile. Im afraid if I wait too long, interest rates will come back up again more

Resolved Question: Would anyone be able to explain the value of refinancing a home loan...?

I've recently purchased my parents home in order to free up income for them so they can live a better lifestyle and have more "throw" away income later in their life. My situation is this: I refi'd their home instead of getting a traditional mortgage with a rate of 6.35ish in Sept. I am set up on a 20yr bi-weekly payment which should pay off in 17 years without putting any additional monies onto each payment (thank you to one of my friends for giving me that information about the bi-weekly payments. Saving 3 years right off the bat was very awesome...). With the rates going so low lately should I consider refinancing in order to lower payments and/or timeframe of the loan? more

Resolved Question: my credit score is 645 and my wife. is 697.what is the best rate. that I qualify for a refinance mortgage loan?

I seem to be having a problem qualifing for a good rate loan.Do you have any advice for me? more

Resolved Question: How do I lower the interest rate on my mortgage without having to refinance? Do I have to be in default? ?

Would it be better to stop making the payments to get a lender to actually work with me? more

Resolved Question: Would I be a candidate to refinance my mortgage?

My wife and I purchased a home in Orange County CA in June 2008. Purchase price was $422,000 and our loan amount was $382,000. Our loan is a 40 year fixed rate at 6.875% with a three year buy down at 5.875% with no PMI. We have excellent FICO scores of 800+, and we make about $6800 gross per month. We have no debt other than the home. Association dues $199 per month, Property taxes $440 per month; and Homeowners insurance $72 per month. The value of our home has decreased to approx.$400,000-$405,000 since June, but we still have 5%-6% equity in it. With 30 year conforming fixed rates under 5.00%. I am thinking about refinancing into a 30 year loan. Would I qualify given the detail above? more

Resolved Question: In times like this how hard is it to refinance a home.?

You hear of all of the banks with no money to lend and you also hear of mortgage rates are at rock bottom. I bought my home for 180k 5 years ago peak of home values. I put money down on it and ended up with a 165k loan, i did have some hick ups on my credit minor they put me in a sub prime loan and I have a 9.5% rate. I live in a town home community where all home are almost exact. I pulled up comparable sales and the mean is 165k. I owe now 158k. I also pulled my credit and spotless, score of 745. I would really like to get a lower rate. I felt i was screwed over when i bought my place and given a 9.5% more

Resolved Question: financial institution...?

which financial institution offer the lowest interest rate and the cheapest fee for refinaning home mortgage?...should I refinance now or wait for a few more months? more

Resolved Question: Is there a better way to Refinance ?

I'm need advice. I have 30 year fixed mortgage at 7.25%. Because interest rates are low and I want more liquidity for the rocky future I want to refinance. I have a good credit history, good payment history, solid work history, eligible for a VA loan but cannot refinance because my house will not appriase out. I have a normal middle class home in a stable neighborhood in one of the top hardest hit areas in the nation. Now my loan to value ratio is not what the bank wants and I can't refinance I cannot even drop PMI for the same reason or get a VA loan for the same reason. I can get a HUD with 4k closing. Any advice???? more

Resolved Question: Can I cancel my mortgage before closing?

Almost a month ago my husband and I signed papers to start processing our mortgage refinance with mortgage broker . Last week, my husband found a better deal which is lower interest rate and lower closing cost. Today, my husband got a call from mortgage broker that we can now close the deal. My husband mentioned that we are no longer interested. The owner of the company called and left a voice message that we can't just back out and we have to pay $2,000 for processing fee even though my husband and I signed that the Application Fee, Appraisal Fee and Credit Report Fee will cost us $0.00. The broker company owner also said, that not to pushed this further which I think he meant they can sue us if we back out or if we do not to pay the $2,000. We live in Wisconsin. Do they have legal right to do that? There is nothing in papers that we signed that if we back out or cancel this we will need to pay for this amount. Please need your help. We are so confuse. Will our credit score get affected? Will they win if they decided to sue us? Any help is definitely appreciated. Thank you! more

Resolved Question: Where can I go to find the most current mortgage interest rate that is updated daily or very frequently?

I am looking to refinance but it seems there is no reliable source for the most current interest rate. The rate quoted or listed on any site can vary as much as 0.75%! Is there a gov site or a nonprofit site to check for 30yr fixed rate daily? more

Resolved Question: Will my mortgage company reduce my rate?

If i tell my mortgage company that i'm refinancing for a lower rate elsewhere, what are the odds that they will reduce my rate to keep me at the bank? more