Mortgage rate?

Question

My credit score is between 660 and 687. I need to refinace my current rate 7.35 adjustable mortgage. What kind of rate will I get.
Countrywide my current lender says I only qualify for a 8.75 rate because I had a bankraupcy in 1997 and I had two collections in 2003 due to my husbands illness and inability to work. He has since started to get Social Security and Retirement benefits.
I pay all my bills on time and pay more then the minimum on all of them including on my mortgage.
I can't see why items from 3 yrs ago should still affect my credit since I have been making sure I pay everything beforeit is due and do not use more them 1/3 of my credit available.

Answer 1

SHOP, SHOP, SHOP-until you find a deal that convinces YOU it is the best. Remember there's more to it than just the rate.

1. Get a copy of your credit report and correct any errors.

2. Do what you can to get your score up-even 30-40 pts makes a difference.

3. Then shop til you drop for the best deal. On line lenders can save you a lot of time.

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Answer 2

If you are in Georgia, contact me! I can help you out. Otherwise, you have to need to call a mortgage broker in your state so they can shop around for you and give you the best rate. And not everyone has to pull your credit.

Answer 3

you need a new "lender"
pick up the phone and start calling..and ask people who they use.........i go to Bank of America..and "no problem"
I heard "citybank" is aggressively seeking new accounts..
shop around......and ask.....
i currently have 5.1% locked in with Bank of America and ready to buy as well..
good luck..