is it a good idea to refinance your home

can u get a mortgage loan with bad credit As a result, people with high scores can get a lower interest rate and more favorable terms on a loan. Unfortunately, those with bad credit scores are automatically perceived to be a higher risk and-if they can get a loan-end up paying higher interest rates and having to agree to less appealing terms that come with a bad credit mortgage.

You could lower your interest rate: One of the best reasons to refinance a car loan is if you have an opportunity to reduce your interest rate.If you previously had no credit or bad credit, it is worth checking into refinancing your car loan after a couple of years to see if you have received better offers.

When Refinancing Your Mortgage Is A Bad Idea. Here are the potential problems if you've had your home for a long time, plan to move soon or have a.

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is it a good idea to refinance your home. – – Why Refinancing Is Not a Good Idea.. If you do decide to refinance your home to pay off credit card debt , you absolutely must make a true commitment not to get back into credit card debt.

Home mortgage refinancing is not always a good idea.. If your old loan only had 10 or 20 years left to go, home mortgage refinancing will result in higher.

A home mortgage refinance may sound like a good idea in theory, but it’s not always possible or desirable. For starters, lenders have tightened up the approval process, making it more difficult.

Mortgage refinance: frequently asked questions Should I refinance? As a general rule, if you can shave at least a half point off your current interest rate, it is a good idea to refinance. If you currently have a home mortgage above 7%, the time is now to make a change.

If you’re dreaming up a major renovation or hoping to capture a lower interest rate, it might seem like a good idea to refinance your home. All you need is a local lender you can trust, and you can.

If you’re planning to sell your house within the next couple of years, refinancing is rarely a good idea. Every time you refinance, you incur a bundle of fees associated with the new loan.

Well, if you have lived in your home for 7 years and then did a refinance why would you get a 30-year mortgage and amortize your loan over 30-years. NEVER do that!

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I recently started following your plan, and I’ve looked into refinancing the home I bought five years. There’s no way this deal is a good idea. You’d essentially be going up a full percentage point.