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Can I get a better rate if I refinance my home now?

My stats are as follows: FICO scores of 724, 758, and 763; Current loan LTV of 67-68%, home value of 345k, currently at a 5.25% rate; DTI of roughly 35-40%. What can I expect rate wise for a home refinance at this point, as I have no history of missed or late payments currently? by cannon_226_976 from San Jose, California. Dec 20th 2011 Reply


Rudi Hofmann (CaPortfolioLoans)
#278 ranked lender in California - 380 contributions

Cannon- I do not originate loans under $417,000+. Although, I believe you may expect a conforming 30-year FRM for about 3.75% or 4% with no out of pocket expense. .... Best wishes. ... Happy Holidays, Rudi

Dec 20th 2011
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Greg Cowart (Cali_Loan_Guy)
#504 ranked lender in California - 9 contributions

Cannon,Based on what you are telling us you would have access to the best rates possible today. On a 30 year fixed rate mortgage your options would be anywhere from 4.125% down to 3.625% depending on the rate/fee structure you decided was the best plan of action.Please let me know if you would like to see a Total Savings Analysis outlining these scenarios or if I can be of any other help in any way.Sincerely,Greg Cowart

Dec 20th 2011
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Ronald Farah (ronaldf)
#515 ranked lender in California - 4 contributions

I will need to know more about the loan, the amount and it will depend on a couple other variances. But I will give you the best case scenario to get an idea.40 year fixed at 4.5%30 year fixed at 3.875%This will get you started and you can reach me anytime at the officeAmerican Lending 951-693-5363 or my cell 949-612-5452or by email ronaldf@americanlendinginc.comThanks,Ronald

Dec 20th 2011
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Kiyoshi Inui (Kiyoshi)
#535 ranked lender in California - 109 contributions

without any doubt. 30yr fixes are around 3.75-3.99% with no points. Although sometimes it's better option to reduce the term of your current mortgage, but keep the payments similar to what you're paying now. Basically you could aim to save a couple hundred a month, or try to save tens of thousands by shortening the term of your mortgage. Obviously this would only apply if you're not experiencing a financial hardship, and just looking to do better. I hope this information is helpful, and I wish you the best of luck on your research. Feel free to contact me if you're curious, and would like to briefly go over your options.

Dec 20th 2011
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Brandon Blue (brandon@bluehomeloans.com)
#510 ranked lender in California - 8 contributions

You can view my rates LIVE directly on my website with no phone call required. We have some of the lowest rates that you will find online. http://www.bluehomeloans.com/fast-quote

Dec 20th 2011
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Cannon.. don't be confused by all the rates your seeing here today... Most credible lenders will not quote a rate without having obtained your complete profile. The latest lending laws make's it illegal to quote a rate without also quoting the APR... Look above... do you see anything like " 3.75% / 3.97% APR"... nope... contact a local mortgage broker and apply with them.. they have access to multiple lenders and can find you the best rate based on your particular scenario. They can also give you a written quote listing all the costs associated with refinancing... WilliamAcres.com

Dec 20th 2011
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Dr. Shab Kavandi (skavandi)
#468 ranked lender in California - 53 contributions

Hello there:Fo the mentioned senario you can get a rate with today's rate from 3.75% to 4% depends on the sititaion! You can contact me at American Select Funding Inc with any further questiosn you may have :) My direct number is: 714-639-6694Best,Shab

Dec 20th 2011
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Brad Yzermans (HomeLoanArtist.com)
#513 ranked lender in California - 10 contributions

There is a guy advertising on the radio for a fixed rate of 3.25% w/ no points. Sly devil...he gets people drooling, they call in, and are then disappointed to hear it is for a a 15 year fixed loan or that they don't qualify for that rate.....but only after they run his credit report and pay a nice juicy $250 application fee. You should call him and see of you can have a 3.25% 30 yr fxd rate with no points.My question is, why in the world would you want to re-start the whole amortization process over again with a refinance? Would saving that little make a huge difference in your life?The worst thing lenders do it push rate and payment without any regard to starting that whole 30 years all over again. They try and make it all about emotion. No wonder lenders are perceived as just a step above used car salesman.When was that last time a lender convinced you not to refinance?

Dec 20th 2011
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john altman (northvalleymtg)
#478 ranked lender in California - 3 contributions

For a 30 yr fixed rate loan I can get you 3.875% with no points.Total fees including appraisal are around $3,000.John Altman Northvalley Mortgage northvalleyloans.com

Dec 20th 2011
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