Compare Mortgage Quotes

cwr · Joined: 12 Sep 2007 Posts: 1 1.41 Dollars($)

"Refi, have adjust rate increased to 11%, bad credit but no late mortgage payments in 1-2 years. want fixed 15 year lower rate" Currently with Countrywide

Niicss · Posted: Wed Sep 12, 2007 10:56 am Post subject:

Cwr, how much the loan was for, was it for 80% of value of the house or more. Are you aware of the equity position of the house presently? How much exactly is your score now?

livinginnky · Posted: Wed Sep 12, 2007 5:30 pm Post subject:

Guest

Guest

Hello: It sounds like FHA might be the way for you to go. As you can see from the other posts, it's necessary to get a little more information from you. Please understand though that any refinance will come with closing costs, fees, etc. so it's important to do the math as well. I assume you checked with Countrywide or don't want to use them again. At first glance, a rate of 11% could definitely be improved upon. Good luck and let me know if you have any other questions. Take care.

Paul

Posted: Wed Sep 12, 2007 6:49 pm Post subject:

Based on the limited information provided (poor credit, no late pays in the last 1-2 years, etc.), I'd have to agree that an FHA loan would offer the most consumer benefit/lowest cost of borrowing.

If you can share more information, I or someone else could inform you of your options.

Regards,

Scott Miller

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi Cwr,

You can refinance with an FHA insured loan. For lending this type of loan, the lender will not consider your low credit score. But he will require you to have a debt-to-income ratio of 29/41. Moreover, this loan will allow you to make as little down payment of 3% along with low closing cost.

Samantha · Posted: Thu Sep 13, 2007 11:48 am Post subject:

Loan with countrywide? well, just watch out, I have heard that the company is about to file bankruptcy. So, try to refinance asap and if possible with an FHA secure loan.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

You should qualify for an FHA mortgage. With good payment history on the mortgage it sounds like you are a good canidate. FHA mortgage rates are right around 6% for a fixed rate right now.

brad · Posted: Mon Jan 07, 2008 5:25 am Post subject:

yes you can refinance your home into a FHA Mortgage at a Loan to Value as high as 97%! Thank god for FHA because all of my clients qualify now. Let me know if you need help finding an fha mortgage. I am always available to help!

Property State:
Property Type:
Credit Rating:

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

Refinance poor credit