794 FICO

[Anonymous]

I have a 794 FICO, which should go up because my credit report was still show a balance of 2550.00 on a credit card that I paid off last month. What interest rate can I expect if I was to refinance my house that I currently has a fixed 6.5 APR.

[ShanetheMortgageMan]

How much is owed on your home and what is the value?  If things check out, 30-year fixed rates are in the mid 5's nowadays.

[Anonymous]

Here is what I pulled of the county tax assessment. I currently owe $74,400.00 I would like to refinance for 15 years. I have been renting this home since 01 Jul 1999 and have never paid the mortgage out of pocket. So for the past 9 years have have been able to keep this house rented...knock on wood.... Parcel Taxable Value: (REVALUATION 2003) Total Land Building Misc. Date Appraised: 91,200.00 14,000.00 77,200.00 0.00 08/13/1999

[Anonymous]

DTL - you can do an "incorrect balance reported" on that card with all the CRAs to get a quicker change on your reports if needed. I had that going on with my cards - they were reporting balances even though I paid all but $2-5 each month in order to boost the score. Within a week my balances were updated with each CRA. EX and TU updated within 3 days, EQ took the longest at 8 days.

[ShanetheMortgageMan]

Since it's a rental the interest rates are about .500-.750% higher than owner occupied interest rates.  I'd compare refinancing vs. just starting to make additional payments to principal in order to pay your mortgage down quicker.

Unfortunately the tax assessments are rarely accurate in giving you an appraised value... they are accurate giving you an assesed value, which your tax treasurer uses to calculate how much property taxes you owe, but not for appraisal purposes.  Check your home out at www.zillow.com to get a semi-accurate indicator of value.