Archive for the ‘refinance home mortgage’ tag
Refinance Home
How much equity to refinance the home?
I read that you only need 10% equity in your home to refinance. It looks like last year, that you needed 20%. What truth?
You are correct. Many areas are marked "Declining Markets" last year. banks would not loan without major capital. It is a relief today. Banks will loan a higher percentage. But credit qualifying score is also increased so that it is offsetting some of leniency in the loan-to-value.