Hi Guest,
It's bit difficult to say how much money you should have in your bank account. In order to refinance your current mortgage, you should have at least 20% equity in the property. Apart from this, you should also be able to offer 20% down payment while you refinance the mortgage. Also, the lender will check whether or not you've excellent credit score and a stable financial situation before approving you for a loan.
Thanks,
Jerry
It's bit difficult to say how much money you should have in your bank account. In order to refinance your current mortgage, you should have at least 20% equity in the property. Apart from this, you should also be able to offer 20% down payment while you refinance the mortgage. Also, the lender will check whether or not you've excellent credit score and a stable financial situation before approving you for a loan.
Thanks,
Jerry