Most consumers are under the impression that if their credit score is not above 740 that they cannot qualify for today’s low interest rates. Nothing could be farther from the truth. When you understand how the pricing works with Fannie Mae and Freddie Mac loans you will be able to take full advantage of today’s still attractive mortgage rates.
If your score is 620 and you are only borrowing up to 60% of the equity in your home there is very low pricing adjustments on a 30 year fixed rate mortgage of $417,000 or less. Believe it or not, that goes for both rate & term refinance as well as CASH-OUT!
