Posted on: 20th Sep, 2013 12:30 am
Hi there... I want some truthful answers. I need to know if all mortgages can be refinanced. I am asking this because I want to take out a mortgage to purchase a single-wide. I am getting an APR of 11.25% and also have a low score of 640. Can I get a better rate later on? How long do I have to wait to get a better rate?
After you take out a mortgage, you will have to wait for at least a year in order to refinance an existing mortgage. You will have to wait for that period of time and then take steps to refinance your existing mortgage.
Hi Seattle,
Yes, all mortgages can be refinanced provided you have equity in the property and meet all the required criteria of the lender.
Yes, all mortgages can be refinanced provided you have equity in the property and meet all the required criteria of the lender.