Chances are good that if you are a homeowner you will experience the refinancing process at least once in your life, if not more often. There are some very good reasons to refinance – you might be able to get a significantly lower interest rate, thus lowering the amount of interest you pay on the home; you might opt to shorten the duration of the loan along with the lower rate to pay less as well. Regardless of your reasoning for refinancing, you will be asked by the bank to have your home appraised, and they will need to look at your credit report. Interest rates will be directly tied into your credit report, so making payments on time to all of your creditors is crucial.
This entry was posted on Wednesday, June 19th, 2013 at 6:20 pm and is filed under Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.