I have the loan thru bank of america. I got married in august and my husband has really great credit and would like to be on the loan if we refinanced. Is it a good time to refinance? I know bank of america isnt going down the crapper like wamu or any other banks as far as ive heard.
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Judging by the interest rate you got, you must have pretty good, but not great credit. If your husband has great credit then you should be able to get it down closer to 5%.
I suggest two things:
1. Join a credit union.
2. Get a 36 month loan from that credit union, probably at a lower rate.
Good luck.
No, not when some dealers are offering 0% loans. Refinance if you can get a better loan and at least 2% lowered interest rate. Other factors are if you plan to stay in your home and how much longer your have on your existing loan, assuming it’s a mortgage.
Cripes!!!! That interest rates really sucks!!! Do you have bad credit??