Compare Mortgage Interest Rates – Finding the Lowest Rates for Your Refinance
Posted on | February 25, 2010 | No Comments
Finding the lowest interest rates for your refinance can take some time and effort. Many American homeowners will look to compare mortgage interest rates today as they are trying to find the best deal possible. With the advancements in technology it is much easier to get preapproved for an interest rate in a matter of minutes.
Most major mortgage lenders will allow you to get preapproved for a mortgage rate via an online application or over the telephone. This usually only takes about 20 minutes and is something that is not difficult. It is very important to understand that you will have to submit a refinance application to get a 100% accurate rate quote.
There are also many websites that will quote you mortgage rates for conventional 30 year fixed mortgage rates and conventional 15 year fixed mortgage rates. It is very important to understand that this is the average of mortgage rates that are being quoted. You will need a very good credit score and equity in your home to get mortgage rates this low.
If you have a credit score above 740 and a significant amount of equity in your home and you should have very little trouble qualifying for a 30 year fixed mortgage rate under 5%. If you do not have these requirements then you can expect your mortgage rate to be well above the advertised levels.
Author: Mike Garner
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