I have a 684 credit score on a 90% ltv mtg. I am currently paying 21% interest in TN. Could I get a refi now

Question

I have a 684 credit score on a 90% ltv mtg. I am currently paying 21% interest in TN. Could I get a refi now

Answer 1

With a 684 credit score, you should be able to qualify for a 7% mortgage or less, assuming you're currently employed and your debt to income ratio isn't higher than about 40%.  NO WAY would I put up with 21%.  Start with a credit union in your area, as they usually have competitive rates & pretty easy and fast from application to funding.  I would be willing to be you can improve on 21% (I haven't heard of a rate that high since the early 80's).

Answer 2

I would run not walk to EVERY BANKER  in your area.  Only legitamate, no loan co's!!!  talk to them and see if they will buy the mortgage.  NO SECOND !

Start today to correct your credit standing with aLONG list of things to do to reach that goal.  I will help if you will contact me. I am a Business & Credit Counselor.  If you don't mind eating beans and macaroni and no more frills in your life for a few months or year I can help.. Only IF YOU HAVE THE COURAGE TO DO SO.  YOU MUST COMMIT YOURSELVES IN ORDER TO DO IT.  let me know

Answer 3

I am curently purchasing my first home. I have a mid credit score of 534. (which is bad) And my rate is under 8%. I am working with Quicken Loans to purchase the home. If I can buy a house on a salary of 23000.00 a year you should be able to refinance for a lower rate.