answersLogoWhite

0

When you can't afford to pay it off.

Specifically, borrowers have to consider the costs to apply for a new loan (the points, including appraisal and closing costs), the monthly savings from lower payments, and the length of time they intend to stay in that home.

User Avatar

Wiki User

14y ago

What else can I help you with?

Related Questions

How can you refinance your home for a mortgage?

In order to refinance your home, you should look for a reputable mortgage broker. Work with the broker to find a good plan to refinance you home by looking at you current mortgage.


How soon can you refinance a mortgage after purchasing a home?

You can typically refinance a mortgage after purchasing a home once you have made at least six on-time payments on your current mortgage.


How does one know when it is time to refinance their house mortgage?

The best time to refinance your home's mortgage is when you believe that you have paid enough on your current mortgage to try to haggle for a lower rate. Usually several years.


What are the requirements for a no fee remortgage?

The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.


What is reverse mortgage refinance?

It is where you have a Mortgage and you have improved your credit you can refinance to lower you monthly bill.


Does Wells Fargo bank offer a home mortgage refinance at a reasonable interest rate?

They do offer home mortgage refinance. How good your rate is will be determined upon you current situation. It may be good and it may be bad.


When should one refinance their mortgage?

One could refinance their mortgage when the interest rate decreases. However, one must also think the amount they have to pay to refinance their mortgage.


How can you remove the cosigner from a mortgage?

You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.


How can one get a refinance mortgage loan in Spain?

In order to refinance a mortgage in Spain, a consumer must have the proper documentation and be the same as when the mortgage was originally applied for. The documentation would include passports, documentation of income and have a good credit rating.


Is now a good time to refinance my mortgage?

The decision to refinance your mortgage depends on factors like interest rates, your financial situation, and how long you plan to stay in your home. It may be a good time to refinance if interest rates are lower than your current rate and you plan to stay in your home long enough to recoup the closing costs. It's important to carefully consider your individual circumstances before making a decision.


How soon after closing on a mortgage can you refinance?

You can typically refinance a mortgage after waiting for at least six months to a year after closing on the original mortgage.


What companies offer a no fee mortgage refinance?

There are many companies that claim to offer a no fee mortgage refinance. Such services are never free, it always costs something to refinance one's mortgage.