Fixed Refinance Rate Today – Home Loan Mortgage Rates Lowest in 2010
Posted on | February 12, 2010 | No Comments
Home mortgage loan rates are very close to their lowest levels in 2010. If you are looking for fixed refinance rate today you could save a significant amount of money. At the present time the 30 year fixed mortgage rate is around 4.81% which is very attractive to most current homeowners. If you are looking to refinance now might be the time to take action.
Getting a refinance rate today could save you several hundred dollars on your monthly mortgage payments. It is important to note that not everyone will qualify for the low refinance rates that are being advertised. If you do not have a significant amount of equity in your home and your credit score is well below 740 you will probably not qualify for rate this low.
The only way you will get a 100% accurate home loan mortgage rate quote is to go through the application process. Once you submit a mortgage refinance application you will get a 100% accurate rate quote and you will be able to better determine how much money you can save. It is important to note that you will have to pay closing costs so these need to be added to the equation.
There are many mortgage calculators available online that can help you to understand just how much money you’ll save. Please remember to make sure to input the closing costs into these calculations as that will be a big part of the equation. The general rule of thumb is that you must save the one full percentage point on your home loan mortgage rate for it to be worth it to go through the refinance process.
Author: Alan Lake
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