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How much equity would you need to refinance?

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There is no requirement for the amount of equity in your home in order to refinance. You can get mortgages for 100% of the value of your home if you are willing to pay a higher interest rate. SOmetimes this makes sense if you really need the money and have no other source for the funds. The things to consider are how much of the total value of your house is your new loan amount going to be? In other words, are you trying to get a loan for more or less than 80% of the appraised value of your house? If it is more, a standard Fannie Mae loan would require you to carry PMI on the mortgage. Next would be closing costs and escrows. A refi could cost you many thousands of dollars depending on the value of your house and the amount of the mortgage. So when you are calculating the loan to value on the new mortgage, and you are planning to roll in the closing costs into the new loan, don't forget to include this amount. Another option would be a home equity line of credit. These loans can be obtained to 95% of 100% of the value of the house depending on your credit and income scenario. Answer Lenders typically require you to have a 90% loan-to-value ratio if you want to refinance. They also want to see that your home has increased in value. Most lenders won't refinance your home if it's significantly losing money.
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Is a home equity loan considered a refinance?

No. It is home equity line of credit that is secured by your home. You use it to buy things and if you buy too much and can't make the payments the bank can foreclose and ta

How do you know how much equity you have left if you refinance and take a home equity line of credit at the same time?

  Answer     You add the two loans together and subtract them from the appraised value of the   house. This will give the dollar amount of equity left.  

If you bought a house last year and it has decreased 15k in value and you need to refinance next year because your interest rate will no longer be fixed how can you refinance with no equity?

It is possible to refinance "out of equity" and take a loan that is more than the home is worth in certain cases. I don't recommend this option. If you were forced to sell you

Can you refinance a foreclosure with 0 equity?

  Answer   No, this would be nearly impossible. Because the loan is in foreclosure, the homeowners' credit is typically very low, so they will not qualify for a tradi

Can you refinance a home equity loan and get cash out?

Home equity loans don't cost you anything unless you use them and only what you use will be charged an interest rate, which is tax deductable. If you have a equity loan you ca

Refinance or equity line of credit?

  Answer   Refinance with a set rate is best. A home equity line of credit is very similar to a credit card. I don't know the specifics as to how interest is charged

If you are unemployed can you refinance or get home equity loan?

It's unlikely you can either refinance or get a home equity loan (which requires payments!), because the potential lender wants some certainty you will be able to repay the lo

How do you Refinance home equity loan?

If you have a 1st mortgage you can roll the two together into one low rate....like 30 yrs at 4.5% with no money down depending on your value of your property....but you can as

Can your refinance if you don't have the equity in the house?

It may be possible to refinance your home if you do not have equity. I have done many of these loans. There are currently programs for both Freddie Mac and Fannie Mae that wil

Can you refinance a house with negative equity?

At times yes. The new HARP program currently allows refinances on properties up to 125% of their value. After March of 2012 once FNMA and Freddie Mac have updated their automa
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What types of home refinance loans are available for no equity needed?

The types of home refinance loans available will depend on the lender and on the borrowers credit history. A borrower with a great credit history will be able to qualify for
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What are the advantages of equity refinance?

Some advantages of using equity to refinance is that one can take a small amount from their equity to pay off other bills or to refinance ones mortgage. One can also use ones