There's one critical piece to getting what you want out of a mortgage refinance. Your credit score. It doesn't matter how much or how little equity you have in your home, or even what your current rate is. Without a credit score that isn't at least in line with the national average, you will not find someone able to work with you.
The purpose, of course, or a mortgage refinance is to lower your rate in order to reduce your monthly payments. By taking advantage of today's rock bottom interest rates, many home owners can shave several hundred dollars off their mortgage payment ever single refinancing mortgage That's a few thousand dollars a year that could be saved which would ordinarily mortgage refinancing to pay interest.
Refinancing your mortgage can be a very smart move, financially, but in order to pull it off you have to make sure your credit score is in good shape. If your score is not in the best shape, there's nothing to worry about. There are many things you can do yourself for free in order to quickly improve that score and get the rate you deserve on your refinance.
For instance, did you know that there is a very good chance that there are errors and negative marks on your credit report that don't belong there. The credit reporting agencies make these mistakes all the time, and these mistakes make your score appear worse than it really should be. But by taking two minutes to look over your credit report online, you can quickly identify those errors and notify the credit reporting agencies right then and there, online.
By law, the credit reporting agencies must investigate the error, remove it, and make the necessary adjustments to your score. As a result, you'll be in a much better position to demand the best possible rate on your mortgage refinance.
Review Your Personal Credit Score
Take 45 seconds to see how you compare to the national average at http://www.thecreditfix.info
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