what about mortgage refinancing nowadays?

Question by Vindaloo99: what about mortgage refinancing nowadays?
I bought several houses in my time and therefore thought I was an “expert” on getting a good mortgage. Now I’m looking for a straight answer on the best refinance rate, and a mortgage broker says pricing on loans includes factors that “were not there even one year ago”, such as: FICO score, loan to value, loan amount, occupancy, etc.” Can a mortgage rate vary according to my FICO score (or would I just be rejected if my score is too low)? What’s going on? Why is it so hard to get a mortgage rate out of a broker or a web site?

btw, I have great credit, 80% equity, live in the house, and want to re-fi $ 117k, in NC.

Best answer:

Answer by src50
Most definitely your credit score will affect the deal you are offered. These are new times – the old easy credit is gone.

What do you think? Answer below!

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