Mortgage Refinance Rates - The lowest rates all in one place

Need Today's Lowest Mortgage Refinance Rates? No Problem.

Mortgage refinancing has become a very hot topic for property owners over the past few years.  As economic conditions worldwide create ripples throughout the domestic US economy, lending rates have dropped considerably.  This drop in mortgage rates creates an opportunity for people who may have a mortgage in place already to refinance that loan - effectively swapping their old loan for a new one, with a lower interest rate.  Whether you are looking to reduce your costs, or pay your principle debt off faster, mortgage refinance can provide a means of achieving this. 

Your Mortgage is a major commitment and should be taken very seriously - it's worth doing some research on how mortgages work before making any decisions.  Rate wise, now is an ideal time to refinance your mortgage.  One of the biggest considerations when deciding whether or not to refinance your mortgage loan is whether or not you can get access to a better interest rate than you currently have, although there are a number of other factors you should consider before deciding to change anything about your home loa

How to Get Lower Mortgage Rates

There are a number of ways to ensure you get the best possible rate on your mortgage:

1.  Clean up four credit.  While if is possible to get bad credit home loans, you will be much better off improving your credit score.  More lenders will offer to lend you money and that puts you ina  position to negotiate.  If you think you may have less than ideal credit you may want to read our article on how to raise your credit score.

2.  Refinance multiple loans into a single mortgage.  If you have multiple loans (for example a home loan and a second mortgage) you can probably save a lot of interest by refinancing those loans into a single mortgage.  Second mortgages and equity loans carry higher interest rates thana first mortgage.

 

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3. Shop around.  While it might sound strange, not all banks and lending instituations offer the same rates.  Like all businesses, banks have their own standards and prefered customers.  Depending on your circumstances some lenders may be willing to offer you a better deal than others.  Shopping around and comparing interest rates from a few different lenders is a great way to keep your overall interest rate down.

4. Keep your LTV ratio down.  Your LTV (Loan To Value) ratio is one of the key factors a lender will look at when considering your loan.  If your LTV is too high lenders may not wish to lend or may consider the loan high risk due to the low equity and charge accordingly.

5. Demonstrate a stable income.  Proof of relaible earnings is another factor that gives a lender comfort that you will have the abaility to manage your debt long term.  Sporadic income is not viewed as favourably my many lenders.

 

Keeping your options open

Banks and other lending institutions all have different lending criteria and are able to offer different rates according to the specifics of the loan applied for, and the profile of the borrower.  We have forged partnerships with lenders throughout the United States to provide you with the most competitive new mortgage and Refinance rates available, or alternatively you can simply use the form provided to have lenders come directly to you.  Today, mortgage holders have access to some of the lowest mortgage rates available in many years, so anyone who has had a mortgage for a few years is probably paying significantly more interest than the currently available mortgage rates.  Whether it's a 15 year, 20 or 30 year fixed mortgage, or an ARM chances are that mortgage rates today are lower than ever before.

Refinancing your mortgage is one of the smartest things you can do to manage your financial situation effectively - under the right circumstances.  Aside from saving you interest, a refinance can provide a range of benefits to home loan holders.  Take a look at our mortgage refinancing article to see how you could save money, pay you loan off faster or free up money for other uses.

You can also find a range of other articles and information on this site to help you navigate the potential minefield of taking out a new home loan or refinancing your mortgage.  For many people struggling with their loan repayments there are financial tools such as mortgage mods or FHA loans or FHA Streamline Refinance that can make a real difference if you know how to use them properly.

Is the time right for refinancing your mortgage?

While refinancing can yield great benefits in times when interest rates have fallen, it's not always the best move for everyone.  Before looking at any sort of financial restructuring, including refinancing your home loan, it's important to look at both the short and long term impacts of your decision.  Although interest rates have fallen, in some cases a refinance may not suit you.  Most important of all though is finding the right lender for your needs.  Take a look at the video supplied for a brief overview of the things you should consider whenn looking to refinance, and read our Should I Refinance? article for a more in-depth look at the things you need to consider.  Whether you're looking for a fixed rate or adjustable rate mortgage it's always best to do some research first, before approaching a lender.

Getting the Best out of your Refinance: Mortgage Rates are the key

Probably the single most important factor in getting the best results from your refinance is the interest rate.  Low rates make all the difference and are usually the difference between refinancing being viable or not and the mortgage rates today may be very different tomorrow.  Refinancing your mortgage onto a lower rate immediately creates savings, and it's worth spending a little time making sure you're getting the best possible rate as even a very small difference in interest can mean huge savings over time, and getting your loan paid off years earlier without paying any more in your monthly payments.  If you can't secure a lower interest rate than you currently have then it's probably not worth entertaining the idea of a refinance.

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Hot topics

Hard Money Loans 

So, you have a lot of equity in your property, but very bad credit.  You want to fund renovations or improvements, but due to your poor credit rating a standard equity loan or line of credit is not an option.  This is where Hard Money is a good option. 

Note: Any and all information provided on this website is intended solely to be treated as opinion and does not consitute formal professional advice. Before undertaking any major changes to your financial situation, especially in relation to your home, you are encouraged to seek formal advise from a qualified professional.