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Posted in Mortgage
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Question By
milosmommy1

3 Contributions
0 People Helped
What are my odds of being approved to refinance my mortgage?
My credit score is between 724 & 737 (TransUnion & Equifax). I was previously denied for refinance due to my large percentage of debt and an old bad account. I no longer see the bad debt account on record (it's been more than 7 years) and I have my debt down to less than 3% of my credit limit. Are the odds in my favor to be approved? If not, what else can I do to increase my odds of approval. (previous denial was 6 months ago)

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Income Verification

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If you have sufficient evidence of income over the past two years, with scores in that area it should not be difficult to find a lender with whom to refinance.  I would have the money set aside for closing (there are closing costs with a refinance) that will make your options more available.  Good luck.

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