BOSTON (2/2/15)--Low mortgage rates and revived home prices are combining to make this a smart time for qualified home owners to refinance mortgages (The Boston Globe Jan. 26). The key word is "qualified."
Many homeowners have stayed on the sidelines in recent refi rounds as they learned--or believed--they could not meet a lender's loan requirements. They should not assume they still are out of the running for a better mortgage rate.
To help you decide if this is a smart time for you to refinance:
Then take these steps as you get ready to approach a lender:
For related information, read "$50 Winner: What Newbie Homeowners Need to Know" in the Home & Family Finance Resource Center.