Posted on: 29th Feb, 2012 09:45 am
they say here in texas that you have to have 80% to refinance. the a6 loan is 5 years old. the house has gone down in value. i don't have 80%. i just want a simple refinance for a lower interest rate. i'm at a 8.25%. i have good credit. i just don't have thousands of dollars they say i need. if i get a lower rate that mean i can put more equitity in to my home.
what to do?
what to do?
Hi kohara,
It is true that unless you have the required equity in your property, you won't be able to go for any kind of refinance. Having a good credit won't always serve your purpose unless you meet the other criteria for getting a refinance.
It is true that unless you have the required equity in your property, you won't be able to go for any kind of refinance. Having a good credit won't always serve your purpose unless you meet the other criteria for getting a refinance.