Keyword Analysis & Research: refinance home equity loan reddit


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Frequently Asked Questions

Can you refinance a home equity loan?

As such, in many cases you can refinance a home equity loan as you would your first mortgage. In order to be able to refinance a home equity loan, you’ll need to have enough equity in your home, taking into account all of the loans and mortgages you have against your home.

When should I refinance my home?

I’ve heard the general rule is to refinance when you can save .5% on your interest rate. Try to have the credit from the mortgage company as rates could fall again making it a good idea to refinance again. Be aware your taxes will probably go up with a new and higher appraisal. Probably still worth it though This is a good point! Thanks!

Can I get a lower interest rate on a refinanced loan?

I just refinanced my loan- bought a house for $542k in Spring, 2018. 5% down, 4.85% interest rate. We just refinanced for 4% with a lender credit to cover the closing costs. You can get a lower rate if you pay for points or pay for closing costs out of pocket. I’d recommend checking out Quicken Loans...

Is a home equity loan considered a second mortgage?

Because a home equity loan is backed by your home, it is sometimes considered a second mortgage. As such, in many cases you can refinance a home equity loan as you would your first mortgage.


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