Bank of America Refinance Mortgage Rates – Bank 30 Year Home Loan Interest Rates Remain Extremely Low for Good Credit Borrowers
Posted on | August 23, 2011 | Comments Off
Bank of America refinance mortgage rates continue to be a very hot topic as millions of Americans are looking to do anything to save money on monthly mortgage payment. At the present time we are seeing bank 30 year home loan interest rates very close to all-time lows below 4.25%.
Many borrowers who have a credit score that is about 740 and a debt to income ratio that is below 40% will find that there are many opportunities to save by completing the refinance process. Unfortunately, many Americans going to this process blind and did not recognize that there are many options available in the fall of 2011.
At the present time we are seeing over 7000 banks insured by the FDIC. With this being true there is no reason to feel as if Bank of America is the only option. When looking at the FDIC website most will find that there are a plethora of opportunities at the local and regional level when it comes to refinancing home loan in August or September of 2011.
Over the next several weeks it will be very interesting to see what happens with mortgage refinance applications. Many analysts continue to predict that there could be a refi boom due to the fact that most can greatly save by completing the refinance process late in 2011. Luckily, there are many free mortgage calculators available online that will help individuals determine if they can truly save.
By having a very impressive credit score above 740, a significant amount of home equity, and a low debt to income below 40% some homeowners will find that they have great negotiating power with Bank of America or any other lending institution. This is why it is imperative to make certain that high interest-rate debts are paid down before going into the refinance process.
Author: Jeremy North
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