Use the quick & easy tool below to find out what you qualify for.
Increase Your Cash Flow Each Month With A Lower Interest Rate!
You want to answer two important questions:
Call me today to see if refinancing your home can help you lower your payment.
Refinancing your home means taking on a new loan with different terms. To lower your monthly payment, you'll need a loan that meets one or more of the following criteria:
Home equity refers to the appraised value of your home minus the amount you still owe on your loan.
The more equity you have, the better interest rate you can get on your refinance, which may help you lower your monthly payment. Having enough equity may also help you eliminate private mortgage insurance (PMI), a costly monthly fee included in many mortgages with an original down payment of less than 20%. Use our refinance calculator to see if you have enough equity to get a lower monthly payment.
To qualify for a mortgage, lenders typically require that you have a debt-to-income ratio of "43/49." This means that no more than 43% of your total monthly income (from all sources, before taxes) can go toward your new mortgage payment, and no more than 49.99% of your monthly income can go toward your total monthly debt (including your mortgage payment). VA and FHA loans even allow for higher debt ratios on a case by case basis.
Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below: