Profile picture for MatthewJohnJuillet

I have only had the home for three years. Can I qualify for a lower rate.Its at 5.5 % now?

If so who should I talk to. I dont know alot about thiese kind of things and do not want to get taken advantage of..
  • May 12 2011 - Yucca Valley
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Answers (7)

Profile picture for Nick Ingoglia
Rates as of today are in the mid 4's.  Rule of thumb: 1% rate reduction is worth the cost of refinancing.  You have to qualify with fair to good credit, income and in a lot of cases no equity is required. It should not cost you a dime for a mortgage professional to assess your situation to see if you can benefit from a refinance.
  • May 23 2011
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FHA Steamline, FannieMae Refi Plus, there are a couple of ways to get it done if the pieces fit.
  • May 23 2011
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Check with you servicing lender and ask if there are any streamline proucts you would qualify for.  I cannot answer your questions not knowing what kind of loan you closed on originally. 
  • May 23 2011
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Hi,

There are a few factors to determine if you are eligible, i.e. your current program equity position etc.

Feel free to research on my website for info at www.loansquawk.com

I try and provide information to help you make the best decision. I do lend in California as well and would be happy to chat!
  • May 12 2011
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You just need to make application (about 15 minutes on the phone or online application), pay $17 for the credit report, and you'll get your answer Matthew.

Depending upon your loan balance and other issues it might not even make sense to refinance - but we can't tell that until we have all the details. If the loan is relatively small you may find that the monthly payment savings isn't sufficient to recoup the costs in a reasonable time.

Contact a lender and get started.  Feel free to contact us via our profile if you have any other specific questions you want to ask.
  • May 12 2011
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You may qualify based on the standard qualifying paramaters like credit, debt to income ratio, and loan to value.  Rates are pretty good right now.  email me if you like.
  • May 12 2011
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Maybe. What is the loan balance, estimated value, and type of loan?
( Conventional, FHA, VA )
  • May 12 2011
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