Credit scores, home location, home price and loan amount, down payment, loan term, interest rate type, and loan types are the essential factors that affect the interest rates.

Pre-Approval. When you are pre-approved for a mortgage, it means a lender has looked closely at your credit reports, your employment history, and your income ﾗ and has then determined which loan programs you qualify for, the maximum amount you can borrow and the interest rates you will be offered.

Many times the simplest and the quickest way of getting home loan refinancing is by asking your current lender. For avoiding the loss of customers, these lenders often agree to refinance the home loan themselves. It is a cheaper and quicker option than approaching an entirely different lender. Contact current lender to see what terms they can offer