how can i take advantage of the low mortgage rates ?Bought ahouse last year and have a fixed rate?
Written By: admin on October 11, 2009
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I bought my house last year and ahve a fixed rate but now want to take advantage of the low rates prevailing today.My credit is not that excellent and refinancing could be a problem because of that
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Tags: fixed rate, fixed rates mortgage, refinancingTags: fixed rate, refinancing
You only get a low rate IF you have excellent credit.
That’s the way the whole system works: prove that you can pay all of your bills on time and you’ll be rewarded because you’re a low risk of default. If you can’t pay your bills on time (no matter the circumstances), you are higher risk in the eyes of the lender and therefore have to pay more in interest as an incentive for that lender to work with you.