refinence - Mortgagefit

Compare Mortgage Quotes

Loan Amount :

Loan Term and Type

Property State :

Type of Loan :

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

disclaimer

refinence

adonis

Posted on: 27th Jul, 2010 04:12 pm

we bought a home 2008. home value is 292,500.we pay 20% down payment($60000.00) then interest rate is very higher 6.25..now we want refinence...we old 220000.00
but home value is down now..is that good idea if we refinance . thank u

Total Reply : 1

Hi deep_love_raj,

As the property value has gone down, it won't be possible for you to qualify for a refinance. The lender will not let you refinance the loan unless you've equity in your property. Unless you've 20% equity in your property, none of the lenders will offer you a mortgage.

adonis

Posted on: 27th Jul, 2010 08:50 pm

Post Your Comment