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Got a Home Loan in Virginia?
Get Low Refinance Rates From Just 2.12%.

Mortgage Refinance Opportunities Abound if You Qualify

Mortgage interest rates are near their lowest levels in fifty years if you qualify; however, getting qualified can be tricky unless you have pristine credit. You’ll still be able to get a mortgage refinance loan with less than perfect credit; it just might not be the lowest refinance rates you were expecting. Here’s an article from the Wall Street Journal with tips before you refi to make sure you’re getting the lowest refinance rates possible.

Years after the collapse of the real-estate market and resulting financial crisis, it takes nearly pristine credit scores and hefty down payments to get the best rates. “Since 2009, credit has become a lot tighter,” says Greg Reiter, who follows mortgage-backed bonds at RBS Global Banking & Markets.

Read More:

http://online.wsj.com/article/SB10001424052702303544604576436331698560662.html

Once you’ve qualified for the best refinance rates possible it’s important to pay close attention to the loan origination fee and closing costs to avoid overpaying. The test of how good of a deal you’re getting on your mortgage refi comes not from getting the best refinance rates but paying the least amount of fees. The reason your mortgage closing costs are so important is that you’ll have to recoup these out-of-pocket expenses before realizing any benefit from your new home loan. The more you pay closing on your refi the longer it’s going to take to break even.

You can learn more about your mortgage refinancing options without paying hidden markup or lender junk fees by checking out my free underground mortgage videos.

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