Bank of America Home Loans – Mortgage Refinance Rates Hit All Time Low of 4.5% for 30 Year
Posted on | June 27, 2010 | Comments Off
Bank of America home loans are currently at all time lows as mortgage refinance rates have hit an all time low this weekend with 30 year fixed mortgage rates being under 4.5%. It is important to remember that Bank of America is the largest mortgage lender in the country but not your only option.
It is also important to note that not all Americans will be able to lock in to low mortgage refinance rates. You will need a credit score above 740 and a debt to income ratio that is below 40% to have any chance to lock in to home loan mortgage interest rates below 5% in the current economic environment.
With this being the case it might be a wise decision to consider doing research on your current credit score. While there is a government free credit report available there is no such thing as a free credit score at the present time. You will likely have to pay between $15 and $30 for a credit score.
It is sometimes worth it to pay this extra money to get a numerical value on your financial report card. If there are errors or inaccuracies on your credit report it would be smart to contact the credit bureau so you can make sure that you have access to the lowest Bank of America home loans.
Author: Alan Lake
Tags: bank of america home loans > bank of america loans > bank of america mortgage interest rates > bank of america mortgage rates > bank of america rates > bank of america refinance > mortgage refinance rates > Refinance Rates