Q&A: What should I do to get lower interest rates when I get a mortgage refinance loan?
Question by Joshua E: What should I do to get lower interest rates when I get a mortgage refinance loan?
Best answer:
Answer by sporregar
You have to shop around for the best one. That’s not saying they will be less than your original mortgage rate was because rates have gone up.
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Shop around to different brokers and compare Good Faith Estimates, don’t hesitate to negotiate with them based on the GFE’s you receive from others. On the personal side the best way to get a great interest rate is by having strong income, assets, a lot of equity in the home, and a high credit score, plus you can always buy discount points to lower the rate (but this is only worthwhile if you plan to own the home for a long time)
You could close inactive credit card accounts. Go to http://www.whataboutloans.com/mortgage/mortgage-refinance-loans.html
for more information.
if another person tells you to close inactive credit card accounts i’m gonna go bananas! that doesn’t get you a lower interest rate on your home!