Refinance rates How to get started
Riskier borrowers that just a couple years ago would have easily been given a loan are not being considered now. In order to qualify for mortgage loans, applicants must now have higher credit scores and better credit reports than ever before. In addition, more money must be put down to obtain the loans. So, although applications for mortgage loans are up, fewer applicants are actually eligible. A lot of experts in the industry anticipate that the low rates will persist in encouraging more applicants hoping to refinance mortgage loans than those wishing to take out loans for new properties.