5 Tips to Get Low Mortgage Refinance Rates

2021/10/04

Mortgage refinance rates depend on an individual’s personal financial situation, there’s no single standard rate when it comes to refinancing. Compare lender rates 1. Comparing 3 to 5 lender loan estimates could save money and guide to choose the lowest interest rate. 2. Increasing credit score The higher the score, the better the rate; which is done by paying bills on time, catching up on past-due accounts and more. 3. Know refinancing goal You’ll typically get the lowest interest rate if you’re just reducing your monthly payment. 4. Shorter loan terms They offer better rates than longer-term, but they usually mean higher monthly payments. 5. Extra fees Consider the fees such as origination fees, appraisal fees, title insurance fees, credit report fees and more.