What rates are available to me for a home refinance?

In today's market, you should be looking in the high 3s or very low 4s. However, if your current loan balance is above 80% of its appraised value, Mortgage insurance is going to be required. There are several different ways to accomplish this, and either way you did it , you would save thousands in interest. My best advice is to contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org

That's a great question. With a 85% loan you would still have to pay mortgage insurance. Depending on where you are at in Corpus Christi you may have had enough appreciation to where your loan would only be 80% of the appraised value. In that case if your final loan is less than or equal to the 80% you could have substantial savings by refinancing to a lower rate AND not have to pay mortgage insurance. I'd be delighted to assist you and see if a refinance is in your best interest. Sincerely, Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach "Educating you to make the right financial choices for your family today and tomorrow" Direct/Text: (936) 228-1944

If you'd like to get an exact quote, my website will give you one. You can get a rate quote at http://www.dreamhomefunding.com/rate Assuming you are looking for a 30-year fixed, 4.25% with no closing costs (lender paying all costs, not financed costs) would probably be correct right now.

Certainly, you can reduce your payment and reduce your credit card debt with the savings, rates are in your favor so contact me at ballen@accessnational.com or 888-354-3299

Paying Points for a Lower Rate. In refinancing, a mortgage company usually offers a range of interest rates at different amounts of points. A point equals one percent of the loan amount. For example, three points on a $100,000 mortgage loan would add $3,000 to the refinancing charges. Analyzing various interest rates and associated points may save you money. As a rule of thumb, each point adds about one eighth to one quarter of one percent to the interest rate the mortgage company is offering. Generally, the lower the interest rate on the loan, the more points the lending institution will charge. Some companies offer refinancing with no points, but generally charge higher interest rates. To decide what combination of rate and points is best for you, balance the amount you can pay up front with the amount you can pay monthly. The less time that you keep the loan, the more expensive points become. If you plan to stay in your house for a long time, then it may be worthwhile to pay additional points to obtain a lower interest rate. Some companies may offer to finance the points so that you do not have to pay them up front. This means that the points will be added to your loan balance, and you will pay a finance charge on them. Although this may enable you to get the financing, it also will increase the amount of your monthly payments. Contact me at DonMcCarty.PFA@gmail.com for more info.

Great question, with your credit and income you should have no problems refinancing down to a high 3% or low 4% rate. However, you will most likley have to have mortgage insurance until the property has at least 22% equity in the property. Assuming home values are stable in your area the mortgage insurance could last only a few years at which time it would be removed and you would realize the full value of your refinance. Please let me know if you have any questions. Adam Webb, First Charleston Mortgage 1-800- 968-3987 or email at adam.webb@firstcharleston.com

We can also structure the loan with an 80% first mortgage, and if we need a 5-10% 2nd mortgage (so as to elimnate the mortgage insurance), we can discuss this after the appraisal comes back. Jeff AlbrechtWe lend in ALL 50 states!NMLS #176723Senior Mortgage BankerColonial National Mortgage, a Division of Colonial Savings, F.A.11612 Bee Cave Road, Bldg. 1, Suite 190Austin, TX 78738512-807-2951 Office512-934-3121 Cell512-807-2960 FaxJeff.Albrecht@ColonialSavings.comhttp://www.cnmcs.com/jeffalbrecht