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Mortgage Professor about best mortgage rate remortgage refinance credit rating: | ||||||||
Should You Refinance a Mortgage to Improve Credit?
17 May 2004 "I have been approached by a lender to refinance at a higher rate in order to pay off debts and improve my credit score, which the lender says is 525. He says that in a few months when my credit rating is higher, I can refinance again to lower the rate. This ... more... Refinancing With Two Mortgages September 4, 2000 "I have an 8.75% first mortgage with a balance of $151,000, and a 12% second mortgage with a balance of $37,300. The second mortgage brought our total mortgage debt above the value of the property at that time, which is why the rate is so high. Our ... more... |
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best mortgage rate remortgage refinance credit rating related definitions |
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Adjustable Rate Mortgage, ARM
Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... Credit Score Credit Score A single numerical score, based on an individual's credit history, that measures that individual's credit worthiness. Credit scores are as good as the algorithm used to derive them. The most widely used credit score is called ... more... |
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More about best mortgage rate remortgage refinance credit rating
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