A consumer with excellent credit will qualify for the low rate mortgage refinancing and the best but with a credit problem will pay a higher interest rate.

Request a new mortgage you qualify for extra money, lower monthly payment and / or conditions of reduced loan.

Another possibility is to use your refinance to shorten the term of your perhaps cold May 1 age out of your term.

The short term will higher monthly payment for capital is increased, but then the interest rates are lowered.

Do not be lured by teaser rates, you will pay add on the cost of your monthly payments.

There are certain aspects that must be understood before engaging in this type of refinancing. A bad credit score must be willing to pay a higher price than the person who presents with a good credit history interest rates.