If my current mortgage rate is 5.75% & my score is the same, do I qualify automatically for the same rate?

Asked by Tracey, Brooklyn, OH Wed Nov 28, 2007

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Reviewmyplace, Both Buyer And Seller, Houston, TX
Sun Dec 2, 2007
Qualifiying for 5.75 now is going to be tough.
0 votes
Joseph Ferra…, , New York County, NY
Sat Dec 1, 2007
Yes, you usually can but it's not guaranteed by every lender.
0 votes
Jackie Blank…, , North County, SD
Wed Nov 28, 2007
Wish that was the case. No, mortgage rates change based on risk (such as your credit scores), but also based on available funds and what investors are willing to lend for. That's why people pay the higher rate of a long term fixed rate mortgages.
0 votes
ian cockburn, Agent, New Orleans, LA
Wed Nov 28, 2007
No. It is best to seek financial info such as this from a mortgage lender...they can give you the best options, for daily the interest rate fluctuates, as do the terms and conditions of the lending.
Web Reference:  http://www.iansellsnola.com
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