refinancing your loan: 4 Important Questions To Ask Before Refinancing Your Mortgage.
- 03/20/14 07:03 AM
So you are thinking of refinancing? Well you are in luck because I have 4 quick and important questions you should ask yourself before doing so.
1) Do I Have Enough Equity To Get A Mortgage?
To get a conventional loan, you will usually need to have at least 20 percent equity. This means that your house will have to be worth at least $250,000 to get a $200,000 loan.
If you have less equity, you could end up having to pay for private mortgage insurance, which can easily add $100 or more to your monthly payment.
2) How's My … (1 comments)
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