Mortgage Refinancing Guidelines
Getting approved for a refinance loan can be more difficult than in the past as mortgage refinance guidelines were tightened by banks and lender across the country.
- High Refinance Standards
- More FHA Requirements
- Reduced FHA Loan Limits
- More Equity Needed
- Better Credit Scores
- Less Risky Refinancing
- Full Documentation
With foreclosure rates increasing to alarming records, the trend of tighter refinance guidelines has been consistent with lenders offering a range of refinancing products.
Home refinance costs can range dramatically significantly depending on the loan companies you are getting loan quotes from.
Get Refinancing Advice!
When shopping for a mortgage refinance online, it is crucial that you compare apples to apples. Request a "Good Faith Estimate" from each lender you speak with in writing so you can do a fair side by side analysis.
With today's home loan rates being so low that they have made refinancing for homeowners very attractive. Homeowners have the ability to eliminate variable interest by refinancing into a mortgage that is fixed for 15 or 30-years. Refinancing equity loans or subprime mortgages is usually a good idea.