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November 17, 2008
Do you still have an Adjustable Rate Mortgage (ARM) or high interest rate Mortgage?
Do you need to consolidate some loans? Consolidate credit cards?
My recommendation: Get those mortgages refinanced ASAP!!!
According to Jim Koontz and Karen Olson at Diversified Mortgage in Great Falls, MT “Don’t be scared!! You can still easily refinance if your credit score is at least 620 or above.”
Interest rates currently are around 6 to 6 ¾ percent if you have decent credit and at least 80% equity in your home. If your numbers are not that good, it is still a good idea to do some calling around to see what is available for your individual situation. As always, I recommend that you comparison shop for who will offer you the best fixed rate mortgage.
You can get your credit score at Fair Isaac: FICO score (www.myfico.com).
See also
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