how can I get a refinance with lower interest rate?
chris y asked:
In last three years,I bought four houses for investment,they are all at 7.5% interest rate?
now I want to refinance them,but I do not have work,credit score is only 680 because my high balance in my equity accounts.is there any way I can get a lower interest rate like 6%?
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In last three years,I bought four houses for investment,they are all at 7.5% interest rate?
now I want to refinance them,but I do not have work,credit score is only 680 because my high balance in my equity accounts.is there any way I can get a lower interest rate like 6%?
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Tags: Credit Score, Interest Rate, Work Credit
February 12th, 2009 at 12:54 am
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Alright first off you don’t have income, so you will have to go stated, raises the rate. Second, these are investment properties, so the rate will go up again. Third a 6% rate isn’t possible on a first home right now unless you want to buy it down to that or get caught up in a libor arm or something similar. Talk to a broker and see how he/she can help you achieve what you want.
February 13th, 2009 at 6:36 am
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Depends on the equity you have in the houses