Should i refinance my house? we got it 2 yrs ago at 7 and it is worth 200 000 we didnt put any money down

Jin
We want to see if we can get a lower interest rate, now that they have lowered nationally. Will it even help lower the payment?

Shenita
it's something to look into certainly. Do you know your credit score? Where do you live? Is your income stable? What was the amount of the mortgage? How do you know your home is worth 200k, was it appraised or is that the tax assessed value? There are programs that you could look at, but my main concern is the potential for being upside down on your mortgage. If you owe more than your home is worth, you probably need to ride this out, if not, a refi is possible, but I don't know if it would be wise. Getting your rate down to where it would be beneficial to you could be difficult. I would need to know some answers before giving you a more complete answer, good luck

Trang
Hi, The interest rate depends on many factors like Credit Score, Debt to Income Ratio (%age of monthly income that goes out as expenses) and Loan to Value (%age of loan taken on the value of the property, the area where you live etc.With the current information that you have provided, It is very difficult to determine where you should go for refinancing or not.If you could email me your contact number mentioning a good time to call, I could help you find out what is the best interest rate you get under current market situations.All the best to you,

Lottie
Yes you should defanitley check it out . I did it through http://www.incentaclick.com/nclick.php?i…You should have your rate in a few minutes its amazing enjoy and good luck

Marin
definitely; especially if you're not taking any cash out.