2007-09-30 08:17:23 · 4 answers · asked by TREVIA M 1 in Business & Finance ➔ Personal Finance
With a score that low, it's unlikely that refinancing your home will be easy. You may be able to get a good rate if you're looking for a loan a lot less than the home is worth. However, if you're looking to finance anything 100% to 80% of the home's value- good luck because I think you're going to need it.
2007-09-30 08:26:43 · answer #1 · answered by Vadalia 4 · 0⤊ 0⤋
With all the sub-prime stuff going on, I doubt you could refinance, but even if you could, your interest rate would be pretty high.
Go to http://www.myfico.com/ and on the first page you will see how different FICO scores affect the interest rate you can get.
2007-09-30 16:18:35 · answer #2 · answered by mister_galager 5 · 0⤊ 0⤋
with FHA financing you can refinance your house regardless of your score. however, you cant have lates in the last 12months....or you will need a good letter of explanation.
fha allows up to 95% cash out refinancing or 97.75% for rate/term
2007-09-30 17:29:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Maybe....but your interest rate is going to be high.
2007-09-30 16:17:39 · answer #4 · answered by Wayne Z 7 · 0⤊ 0⤋