Can i get a better rate than i have now by refinancing?

What type of property do you own? How much do you owe? What do you think it is worth? Lenders also take in consideration, income, assets, employment as well as your credit.Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been in the mortgage business since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

Conventional loan interest rates vary dramatically based on score. A 660 score will allow you to refinance, and based on rates today - you'll likely be right around 5.125%. Contact a local mortgage broker in your area for more assistance

Yes. Depending on your overall financial situation and when you start the process, you can qualify for a rate in the mid 4% range or low 5% range. FHA loans require you pay Mortgage Insurance (MIP), so I would only use FHA as a last resort. Feel free to call me for more information. I specialize in residential loans in WA, CA, VA. Jimmy Vu - American Financial Network - www.afndirect.com - 949.287.4134 - jvu@afncorp.com

Lenders need to take a lot more factors into consideration to determine if you are eligible to refinance. For example, the type of property you own, your current loan, your employment status, your annual income, your debt-to-income ratio, the amount of equity you have and your assets. Speak with a WA-based lender to determine if you are eligible.

When you consider the closing costs, and that you will have a new 30-year payoff date, you may want to keep the existing loan. if you can pay more than the minimum payment every month, you will reduce your overall interest payment, perhaps more than you would if you refinanced.

Daniel, you almost certainly should be able to get a better rate than 6% but it will depend on your qualifications and how much (if any) equity you have in your home. If the loan qualifies for HARP it will not matter how much the home is worth. Agree with those saying ONLY go FHA as a last resort - and my guess is that the savings would likely not be very much if you change to FHA.