How Your Credit Score Impacts Your Refinance Rate
BuyWise Mortgage
BuyWise Mortgage CA
Published on August 24, 2021

How Your Credit Score Impacts Your Refinance Rate

Here’s how your credit score may impact your ability to refinance.
 

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Today we’re answering a question from Freddy L. He’s looking to refinance, but his credit score was hit after he purchased the home back in November and now sits in the low 700s. Freddy wants to know if this will affect his ability to get a conventional interest rate.

Verify your mortgage eligibility (Dec 4th, 2021)

With a conventional loan, any score of 740 or above will give you the highest tier and best rates. If you’re between 700 and 719, you’ll still get a pretty good rate.

I would love to get a look at the credit report and see what is impacting the scores and what we can do to get you to a 720 or 740.

If you have any questions for us about this topic or anything else related to your current or future mortgage, don’t hesitate to reach out via phone or email. We look forward to hearing from you.

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BuyWise Mortgage
BuyWise Mortgage CA
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