N*******s
发帖数: 27 | 1 We are trying to refinance, but due to the fact that my husband's credit
score is lower than 700, our broker said that we can only do 3 year ARM @3.
625%.
Does anybody know if this is a good option? 3 year seems very short, only
wishing that the mortgage rate would still go down at the end of 3 years.
Any better options you think that we could have?
Thanks so much for any help and information! |
p******y
发帖数: 3523 | 2 Low credit score will impact the mortgage program whose term is longer than
15 Yr. All ARMs are 30 yr term.
Only 15 yr fixed or 10 Yr fixed don't be impacted by credit score. |
N*******s
发帖数: 27 | 3 Thank you for your response. But I'm confused. So there is no 3year
adjustable loan? and 15yr and 10yr fixed don't get impacted by credit score?
than
【在 p******y 的大作中提到】
: Low credit score will impact the mortgage program whose term is longer than
: 15 Yr. All ARMs are 30 yr term.
: Only 15 yr fixed or 10 Yr fixed don't be impacted by credit score.
|
p******y
发帖数: 3523 | 4 There is 3/1 ARM, and term is 30 Yr. Low rate for the first 3 Yr, and adjust
annually since the 4th year.
Yes, 15 Yr and 10 Yr fixed don't get impact by credit score. But if the
score is too low, say lower than 650, may not get the mortgage. |
k******o
发帖数: 3328 | 5 Even for 15 year, some lender will reduce rebate if FICO < 740. |
