Understanding Cash-Out Refinance Rates: How to Secure the Best Deal

Reported 1 day ago

Cash-out refinance rates are generally higher than standard refinance rates due to the increased risk lenders associate with larger loan balances and reduced equity. Factors influencing your rate include your credit score, loan-to-value (LTV) ratio, and debt-to-income (DTI) ratio. You can improve your chances of getting a better rate by enhancing your credit score, maintaining low LTV and DTI ratios, and considering purchasing discount points. However, external factors like inflation and the prime rate also play a role in determining interest rates.

Source: YAHOO

View details

You may also interested in these wikis

Back to all Wikis