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Bank of America Refinance Mortgage Rates – Weekend Home Loans for Homeowners Under 4.5%

admin — Sat, 18 Sep 2010 15:42:45 +0000

Bank of America refinance mortgage rates remain at very attractive levels as many homeowners are finding that 30 year fixed mortgage rates around 4.5% are attainable. Remember that not all homeowners will get these low weekend home loan rates as it takes a great credit score above 740 and a very low debt to income ration, usually below 40%.

By meeting these requirements many homeowners will have the ability to refinance to a much lower mortgage interest rate. The general rule for all homeowners is that they must save at least one full percentage point to save money by going through the refinance process. With this being the case it is always wise to do research.

While Bank of America is definitely the largest mortgage lender in the country it is important to realize that they are not the only option when it comes to refinancing today. There are many mortgage lenders that can help most home owners lock in to a very low mortgage interest rate. Take the time and effort to complete due diligence and homework before making any final decisions.

Author: Heather Best

Compare Mortgage Interest Rates Today – FHA, VA and Refinance Fixed Mortgage Rates at All Time Lows

admin — Wed, 08 Sep 2010 20:47:54 +0000

With mortgage interest rates very close to all time lows and many Americans looking to save money it should come as no surprise to see many people looking to compare mortgage interest rates today. At the present time many mortgage lenders are reporting that refinance FHA, VA and fixed mortgage rates are very close to all time lows as the conventional 30 year fixed rate is around 4.25%.

Before making the assumption that all Americans can lock in to these low rates it is very important to realize that most Americans are going to struggle to get the lowest possible rates. It takes a very good credit score, a significant amount of home equity and a low debt to income ratio to have any opportunities to lock into the lowest possible refinance rates in September.

There are many mortgage lenders throughout the country so it would be a very wise decision to consider many options before making a final decision. By exhausting resources there are likely many great avenues to save money in the current economic environment. Make sure to select a lender that offers great customer service.

Author: Heather Best

Home Mortgage Refinance Loan Rates – 30 Year Fixed Interest Rates at 4.35% on August 24

admin — Tue, 24 Aug 2010 14:46:27 +0000

Home mortgage refinance loan rates continue to remain at very low levels as the 30 year fixed interest rate is around 4.35% on August 24, 2010. While this is not the lowest level in the history of the United States it is still very low when considering that mortgage rates were well above 6% not that long ago. It is also the case that many homeowners stand to save a significant amount by refinancing and the current economic environment.

It is very important for homeowners to clearly understand that even though home mortgage refinance loan rates are very low it is not the case that all Americans can lock in to these low rates. It takes a very good credit score, a significant amount of home equity and a debt to income ratio that is well below 40% have any opportunity to receive the low refinance mortgage rates.

There are many mortgage calculators available online to help homeowners better understand how much they must save to benefit from this process. The general rule of thumb is that most homeowners must save at least one full percentage point to fully benefit from the refinance process in 2010.

Author: Mike Garner

Government Mortgage Refinance Help Through Making Home Affordable – Obama Plan to Assist with Refinancing

admin — Tue, 17 Aug 2010 17:01:48 +0000

Many Americans are looking to refinance as 30 year fixed mortgage rates have been quoted as low as 4.25%. Unfortunately, there are many homeowners who have seen their home values decrease which makes it very difficult to refine it. Luckily, there is government mortgage refinance help through the making home affordable plan. Pres. Obama has stepped up it is making it a point to help Americans who are struggling refinance to a lower overall mortgage rate.

By accessing the making home affordable website you will likely find that there are many options available when it comes to refinancing even if customers have seen their home prices drop. This is very important as saving money on a monthly mortgage payment could be just what is needed to get out of a bad financial position in the current economic crisis.

Almost 80% of mortgage applications have been to refinance over the last few weeks as mortgage rates are very close to an all-time low. It may be the case that some borrowers can not receive an interest rate as low as 4.25% but they could still benefit from the low mortgage rates available in August 2010.

Author: Alan Lake

Home Mortgage Loan Rates – Interest Refinance Rates Under 5% for Borrowers in Texas, Florida and California

admin — Wed, 23 Jun 2010 14:00:40 +0000

Home mortgage loan rates have been under 5% for quite some time for the 30 year fixed mortgage. At the present time we are seeing interest refinance rates under 5% for borrowers in Texas, Florida and California. It is likely the case that borrowers in almost all states should be able to find low interest rates.

Before making the assumption that just because low interest rates are advertised it means they are attainable you might want to do your research. It is usually the case that your credit score and financial situation will greatly determine what interest rate offers you receive from financial institutions.

There are many websites that can help you to estimate the interest rate offer you may receive but it is important to note that you will not get a 100% accurate rate quote until you go through the mortgage application process. This will tell you exactly what interest rate offer you will receive.

With home mortgage loan rates very low in Florida, Texas and California look for many people to attempt to save money on their home loan in the very near future. By refinancing below 5% some borrowers could save hundreds of dollars on their monthly mortgage payments.

Author: Heather Best

Wells Fargo Refinance Mortgage Rates – Home Loans Stable at 4.75% on May 12, 2010

admin — Wed, 12 May 2010 16:52:37 +0000

Wells Fargo refinance mortgage rates continue to remain at low levels as we are currently seeing home loans stable at 4.75% for the 30 year fixed mortgage rate. On May 12, 2010 mortgage rates are moving sideways as there has been very little cause for change in the overall trend of home loan rates.

Many mortgage lenders have had the luxury of offering low mortgage interest rates to customers over the last several months and years. For over 18 months we have seen refinance mortgage rates near or below 5% for a 30 year fixed rate. With this being the case many Americans are looking to refinance.

Over the last week we have seen 30 year fixed mortgage rates drop to levels below 4.75% which is a 2010 level. With Wells Fargo refinance mortgage rates in the year 2010 lows it comes as no surprise to see refinance activity increase. Look for this to continue as long as mortgage rates are below 5%.

Wells Fargo and most mortgage lenders have greatly benefited from the current low interest rate environment. Having the opportunity to offer low home loan rates allows banks and financial institutions to gain new customers each and everyday.

Author: Jeremy North

Refi Plus Could Help You Refinance

admin — Mon, 16 Feb 2009 16:00:42 +0000

Recently, Fannie Mae introduced a program that will attempt to allow more Americans to lock in at historically low mortgage rates. The “Desktop Underwriter Refi Plus” program is going to expand the criteria for qualifying for a loan. There will be a reduction of employee information as well as a lower FICO score will be required to qualify for the advertised low rate mortgage loans. This is a strong effort by Fannie Mae to give more homeowners the opportunity to refinance and get a rate they desire.

While this sounds wonderful, it is not going to cause a refi boom. Many of the homeowners who were ineligible before will remain ineligible due to the subprime crisis and lenders being strict with their lending practices. For those that do qualify, it will make the process much quicker as there will not be as much documentation as before.

Buying or Refinancing a Home in 2009? A Must Read!

admin — Fri, 26 Dec 2008 00:55:24 +0000

We all know that mortgage interest rates have drastically declined in the last 8 weeks. We also know that the value of homes has halved themselves in many markets with some markets being down over 70%. With that knowledge, it is a great time to buy a home and if you already have one, refinancing is the best option, correct? Maybe not; there are more things to consider then just the falling mortgage rates and home prices.

The first thing that I would suggest every single homeowner or future homeowner to do is find out the different types of mortgage loans. A great link is available at the Home Buying Institute. If you do not know the difference in a Balloon Loan and an ARM, doing the research could save you a lot of money in the future. Another major aspect of your life that you need to consider is “where is your current credit rating and where is it headed?” If you do have great credit, but you are starting to see a decline in savings, it might not be a good idea to go out and get a mortgage payment. The opposite may hold true; if your credit isn’t great, but you just got promoted and your savings account is starting to increase, maybe 2009 is your year to make that home purchase. When considering refinancing, the same rules apply. Analyze your current credit and the direction of your credit before you decide to go to your lender for that Refi.

Also, make sure to realize that fees and closing costs add up quickly. If you think you are going to get a $200,000 mortgage for $200,000 you are sadly mistaken. Realize that many of these fees are charged up from so you many need an extra $10,000 just to cover some of the fees and costs that are involved in a new mortgage or the refinancing of a current mortgage.

One of the most important things to consider, especially in this economy, is that mortgage brokers are not trying to help you! They want to put money in THEIR pockets so they can feed their families in this struggling economic environment. Never let them convince you that they are doing it all for you. They do this just so you will sign the document that gives them the money to survive this month.

This is just the beginning of the issues that arise when considering buying or refinancing a home in 2009. Check back at Subprime Blogger next week and we will give you some more tips and tricks to make the home buying or refinancing experience a good one in 2009.