by Robert C. Young
Refinancing saves you money over the long term.
Apply for a refinance loan with a mortgage lender. Try your current lender first, since it already has the information necessary to underwrite another loan and might give you a good deal to keep your business. Ideally, if you are refinancing a first mortgage and a home equity line into a single mortgage, you want as low a loan-to-value ratio as possible because interest rates increase as loan-to-value ratios get higher and the loan becomes riskier for lenders. Eighty percent or lower loan-to-value is ideal to get the best rates. Depending on your credit, financial profile and lender, you may not be approved for a refinance with a high loan-to-value
ratio. If you have the funds available, you may benefit from paying down your line of credit before applying for a refinance loan.
Trending in Your Area
How to Decorate a Small, Windowless Bathroom
A small, windowless bathroom presents and interesting.
How to Decorate the Walls of a Narrow Hallway
Decorating the walls of a narrow hallway always.
Home Decorating & Storage in Small Rooms
Decorating and storage tend to go hand in hand.
How to Decorate Your Home Space
When decorating your home space, you want a place that.