Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

7 Things to Know about Refinancing
With mortgage rates at record lows, many people are looking to refinance. Here are 7 things you need to know in today's market.
Percentage Point break - a good rule of thumb is that the rate needs to be a full percentage point less than your current rate. Half rejected - with so many people looking to refinance and the tight credit market, do not expect to be automatically approved even if you do have a lot of equity in your home. FICO scores - 720 used to be the Gold Standard, now they are looking for 740 and above to get the best rate. Lower FICO scores equal a higher interest rate. Equity & Documentation - equity is key and you must be able to document the equity and will also have to document your income and assets. Fee Paying Options - fees range widely depending on each lender and look out for lenders adding in buy down points to get you that super rate. If it takes more than two years to pay back the closing cost amount with the monthly savings, it may not be worth it. Shop around - things are changing daily so if one lenders says no there ... more

__________________________________________________
Are you on The Rain? Grow Your Network!