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Can you buy a house and then immediately refinance it to add more down?
Wiki User
∙ 11y ago
yes i think.
Wiki User
∙ 11y ago
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When is it a good idea to refinance your home?
When your interest rate will go down, when your house is worth more then you paid for it or when your remodeling or updating your house.
Can I refinance if we owe more than our house is worth for a lower rate?
Yes, you can. The government is letting individuals refinance into certain mortgages if they are upside down on a house (no more than 5%, I believe). Different lenders offer different refinancing deals, so it is best to shop around.
Why is it bad to do a 100 percent refinance?
If you refinance and you don't have enough equity in your home, then you are paying refinance fees and adding to your debt, plus your house isn't worth what you are paying so there is more liability to the bank. Banks don't like to take risks on the owner defaulting since they rarely get what the house is worth if they have to foreclose.
What are the requirements to refinance a house?
Each lender will have specific requirements for refinancing, but most will expect that your income be significantly higher than your mortgage, that you will be able to pay closing costs after the refinance, and that your house is worth more than you are asking to borrow in the refinanced loan.
At what point is it beneficial to refinance a home mortgage?
If the mortgage rates have gone down you may want to refinance your home. Also you may want to if you have 20% or more in equity or have an adjustable rate mortgage.
How do you refinance a house that you owe more than it's worth?
Generally, no new lender will allow a refinance in that situation. You should speak with your lender.Generally, no new lender will allow a refinance in that situation. You should speak with your lender.Generally, no new lender will allow a refinance in that situation. You should speak with your lender.Generally, no new lender will allow a refinance in that situation. You should speak with your lender.
Where can I find more information about auto refinance calculator?
Here is a site that will help you learn more about an auto refinance calculator and how to use one. http://www.refinanceitt.com/auto-refinance-calculator.php
How can one make sure to get the best refinance rate?
To get the best refinance rate try to refinance at a lower rate because mortgage rates are falling. But there is a cost to refinance so it might end up costing you more.
Can a spouse refinance a sole and separate property in a community property state?
You can refinance your property if a bank agrees to refinance your property. If they find out you are separated, they could choose not to lend you more money.
Where can you refinance your house?
Your first stop should be the original lender. You have a relationship with them, which means that lots of things will go more smoothly. If that doesn't work, then search online for a local lender.
Where can one find more information about auto refinance companies?
With the help of internet, one can get more information about auto refinance companies. Some of the websites to get this information are: sideshare and nationwide.
Can an executor refinance a house in a trust?
The short answer is yes as long it is a single family home and the executor is the trustee. Since it is an executor it would probably have to be refinanced as an investment home with the higher rate, the executor would need to take on the responsibility of the note, and it would be a bit more document intensive than a regular refinance.
