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How does refinancing primary mortgage affect a home equity line of credit?
Wiki User
∙ 12y ago
The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
The lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoThe lender for the refinance will require the home equity lender execute a subordination to the new mortgage. Also, the balance due on the home equity mortgage will factor into whether the new lender rates you as a good risk for loaning more money.
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What effects the home mortgage refinancing rate?
Several factors affect the home mortgage refinancing rate. The amount of money the bank has to loan out is one such factor. Another factor is the borrower's credit rating.
What are the advantages to refinancing your mortgage?
There are several advantages to refinancing one's mortgage. Some of these include: refinancing can lower one's monthly payment, it helps manage one's credit, and it helps one pay off their mortgage sooner.
Where can someone get mortgage refinancing quotes?
Someone can get mortgage refinancing quotes from the bank manager at the branch of the bank they deal with, at a Credit Union, or a place that specializes in mortgages.
What happens to a home mortgage if the co-signer does not file bankruptcy but has credit problems?
It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.
What should I know about bankruptcy and mortgage refinance?
You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.
What effects the home mortgage refinancing rate?
Several factors affect the home mortgage refinancing rate. The amount of money the bank has to loan out is one such factor. Another factor is the borrower's credit rating.
What are the advantages to refinancing your mortgage?
There are several advantages to refinancing one's mortgage. Some of these include: refinancing can lower one's monthly payment, it helps manage one's credit, and it helps one pay off their mortgage sooner.
Where can someone get mortgage refinancing quotes?
Someone can get mortgage refinancing quotes from the bank manager at the branch of the bank they deal with, at a Credit Union, or a place that specializes in mortgages.
What happens to a home mortgage if the co-signer does not file bankruptcy but has credit problems?
It will have no affect on the mortgage as long as the lending terms are met by the primary borrower.
What should I know about bankruptcy and mortgage refinance?
You can refinance your mortgage, even after a bankruptcy. Refinancing can even help restore your good credit in about two years! Sit down with your lender and talk about a refinancing plan.
What is the current refinance mortgage rates?
If you are refinancing your mortgage for a 30 year fixed rate you can expect a rate of about 4.250% and if you are refinancing your mortgage for a 15 year fixed rate you can expect a rate of about 3.375%. Of course, this will vary with credit rating, current mortgage standing, etc.
Where can one find information on refinancing the home mortgage equity loan?
The Federal Reserve website offers a consumer's guide to mortgage refinancing. Some bank websites, such as University Credit Union for example, offer information on the advantages and disadvantages of refinancing vs. home mortgage equity loans in particular.
If you are not the primary person on the mortgage is you credit rating affected?
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
Can you add the spouse's name to the mortgage paperwork?
You can add your spouse to the mortgage by refinancing in both of your names. Your spouse does have to be credit-worthy. Check with your original lender to see if it can be done simply without a full fee for refinancing.
Where can one find information on bad credit mortgage refinancing?
For mortgage refinancing on a bad credit, you either must locate a specislised company who do this, or a company which offers the service to bad credit reated individuals. To gain success in searching, always think ahead, attempt to improve your credit rating before they accept your application and during the time you're a customer.
Is there a way to remove a co-signer from a mortgage without refinancing?
No. If the primary borrower's credit rating has improved and you go back to the original lender, you MAY be able to refinance without many of the usual closing costs.
In what ways can a negative credit report affect your financial goals?
Refinancing can affect your credit report, and excessive shopping can also hurt it too.
