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Can you refinance a mortgage with a credit score in the 400's? Can you refinance a mortgage with a credit score in the 400's?
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Old 05-17-2007, 10:51 AM
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Default Can you refinance a mortgage with a credit score in the 400's?
Can you refinance a mortgage with a credit score in the 400's?
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Old 05-17-2007, 03:35 PM
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If you do you are looking at a rate that is outrageous. It most likely wouldn't be worth it. Try your best to raise your credit score and then refi.
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Old 05-17-2007, 06:46 PM
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The places that will let you are very limited, but yes. You'd probably be looking at an interest rate in the double digits though.
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Old 05-18-2007, 12:44 AM
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People usually refinance to get a better rate. With a score of 400, I doubt anyone would even touch you. If they do, it would be a horrible rate. Not worth it.
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Old 05-21-2007, 09:56 PM
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If you're currently in an FHA mortgage, and have made your last 12 payments on time, then yes, but it is more like a rate reduction and not a refinance called a streamline. Your credit score is not a basis for qualification, only your payment history.
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Old 05-22-2007, 12:31 PM
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Yes, you can, but it won't be at a good rate. So, you might end up paying a more a month than you do now.
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Old 05-22-2007, 03:18 PM
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I know someone personally with a 410 credit score who got their home refinanced with many offers. She went thru lendingtree.com.
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