CommonCents
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YES, you can possibly refi...It's Impossible to answer without knowing the value of the home and the amount that you are looking for, as well as 10 or 15 other pieces of information.
Your question is like asking how much is a used car. |
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viper_fang2002
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if you live in new mixico i can help you email me to get the info BUT YOU HAVE TO LIVE IN NEW MIXICO |
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psalmnjam
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Your best bet is to work on raising your credit score. While you can get approved they will give you a high rate. If you know someone who can add you to seasoned credit card you can bump your score up very significantly! That in turn will save you thousands of dollars in interest every year. If you have more questions about being an Authorized User on a Credit card feel free to email me - I've seen 500's turn to 700's! psalmnjam@yahoo.com |
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Robert_N
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Most companies can refinance a 590 borrower all day long, providing said borrower has reasonable income vs. debts, and a decent amount of equity in the home. Mortgage lates are also a key factor in approving loans for people with low scores. Hopefully youve made payments on time for your current mortgage. |
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Dewey K
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I know of a site that can help you. My score is only slightly higher and they helped me locate a good lender who didn't scalp me. Go to www.1-800BadCredit.com and check their lenders. They treated me right. Good Luck. |
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mbrcatz
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It's possible, depending on how much equity you have in your home, but you can expect close to 12% if you have a fixed rate mortgage.
If you're having money problems (as evidenced by the low credit score), I'd suggest that borrowing more money will dig you in deeper, not help you out. Maybe you should just try selling the house instead. |
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honestmortgageguy24
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There's a lot more to it than the answers previous are letting you know. Most people in the mortgage business right now only know about 30% of what is available out there because those loans pay them the most money. You may qualify for an interest rate anywhere from in the 6's to the 10's, depending a few factors. Have you been late on your mortgage in the last year? Have you declared bankruptcy? Have you been late on any other payments? How much of your income per month goes towards your debt? What is your house worth compared to what you owe? You really need to speak with someone and go over specifics. Don't use a site or 800 number that someone posts here. Feel free to email me if you have specific questions. |
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iceman
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Its possible.. depending on your other debt, current income, and appraisal. Some might reject you based on your score, but others would approved you as long as you are not swamped in debt. The interest rate will probably not be all that great unless your income is spectacular. I would think you should expect around 7-9%. Someone else said 12%, but I would highly doubt you would get anything even close to that. Thats absurd. |
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