i have an adjustable rate set to move in june. can smeone please tel me what to expext rate wise and if i will get approved? my fico is 668 with an income of 36k bankruptcy is 5 years discharged with all bills being paid on time . owe 200 on credit cards with 17000 in credit line on al 4 cards together. have over 55k in money market to show i am saving money. will i get approved and what rate can i look for?
2007-03-19 01:27:30 · 2 answers · asked by john d 2 in Business & Finance ➔ Personal Finance
also house valued at 275k owe 153k and i dont want any cash out
2007-03-19 01:29:27 · update #1
it all depends. shot me an email and i my be able to help you refincance for a lower rate depending on where you live. I'm a Loan officer.
2007-03-19 03:27:48 · answer #1 · answered by cmruffin1 2 · 0⤊ 0⤋
Depends on what your papers say.
My adjustable rate can only go up 2%/year and only 10% over the life of the loan but can go down as far as prime does, if it does.
My friend's was written totally different and it followed prime and could go up or down as much as prime went.
2007-03-19 04:34:41 · answer #2 · answered by Anonymous · 0⤊ 0⤋