Bad Credit Mortgage Interest Refinance Rates Today – Bank of America, Chase and Wells Fargo Rates at 4.25%
Posted on | June 19, 2011 | Comments Off
On June 19th, 2011 we are seeing 30 year fixed mortgage rates at extremely low levels. In the last week the 10 year treasury rate yield has dropped to 2011 lows which in turn has pushed 30 year fixed mortgage rates to the 4.25% level. Some of the most popular banks that homeowners use to refinance include Bank of America, Chase, Citi and Wells Fargo.
It is very important to remember that there are over 7000 FDIC insured banks throughout the United States. By doing extra research most will find regional, national and local banks that are more than willing to go above and beyond to gain new customers. With this being the case there is no reason to avoid checking out the competition.
It is also important to realize that it takes an amazing credit score to have any chance to lock in to the lowest possible rates. Most lenders require a credit score above 740, a significant amount of home equity and a debt to income ratio that is well under 40% to have any opportunity to lock in to the lowest interest rates today.
For those with bad credit it can be expected that low mortgage interest rates will not be easy to come by. This is why it is very important to pay down high interest rate debts to the best of ones ability. By allowing high interest rate debts to accumulate it is often the case that customers have great problems getting low interest rates on any money borrowed.
With the many advancements in technology it is now the case that Americans have an opportunity to contact mortgage lenders much easier than ever before. By accessing a specific mortgage lender website most will find that there are live chat or twitter answering services that can help homeowners find the answer to those difficult questions.
Author: Alan Lake
Tags: bad credit mortgage rates > bad credit refinance rates > bank of america rates > home loan interest rates > home loan mortgage rates > mortgage interest rates today > wells fargo bad credit rates