refi

cmurphy60 · Joined: 05 Mar 2008 Posts: 1 1.36 Dollars($)

If I want to refinance my home how much will it have to appraise for? Is there some set percentage of number? In other words if my loan is 150000 what will the home have to be apparised for in order to refinance it?
Thanks,

larry · Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)

Hi cmurphy,

Welcome to the forum.

How long have you been bought the house? If you have taken the mortgage just within one year then you cannot refinance it now.

How much have you gain equity?

" how much will it have to appraise for?"
You can get loan for the 80 percent of the home value.

Best of luck,
Larry

brad · Posted: Wed Mar 05, 2008 1:09 pm Post subject:

Hi cmurphy,

You can refinance your home into an FHA loan up to 97.75% or conventional up to 95% its all up to you and how you would prefer to structure the mortgage. You can refinance if it hasn't been one year since purchase as long as you are not taking any cash out of the property.

Brad

Jeanette · Posted: Wed Mar 05, 2008 3:26 pm Post subject:

I agree with Brad. You can refinance at rate and term if you have the property 6 months or more if you do not want any cash out. If you have to get cash only, 2,000 or less.

Jean Smith
Loan Officer Representative
NCI Company

Cell: 757-338-1889
"www.ncimortgage.com"

[Link deactivated as per forum rules. Thanks.]

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