can i refinance my home

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How to Refinance a House That Has Been Paid Off – Budgeting Money – Even if your home has been paid off, you can still refinance. You must meet the lender’s criteria, including keeping your debt-to-income ratio below 43 percent. You may want to consider a home equity loan or line of credit instead. You may be able to deduct the mortgage interest.

How to know when to refinance your mortgage. Ellen Chang.. A refinance can cost more money in the long run if you start your new loan with a 30-year term.. and you can lose your home to.

How Soon Can I Refinance My Mortgage After Purchasing a Home. – Your refinancing goals. There are plenty of reasons to refinance, and what yours is can affect how you proceed. Lowering your monthly payments is always popular, especially with interest rates as low as they are now. However, most lenders won’t refinance a mortgage they issued in the last 120-180 days, so you may have to shop for a new lender.

The third factor that can impact your ability to refinance your home is your credit score. When a lender decides whether to give you a mortgage or not, they typically offer the best rates to people with very good credit, or with FICO scores of 740 or higher, according to Reiss.

Keep the House and Refinance the Mortgage | DivorceNet – Keep the House and Refinance the Mortgage. If either spouse wants to keep the family home after a divorce, refinancing is often necessary in order to "buy-out" the other spouse’s interest in the property.. Home equity is created when the value of your home increases and/or when you reduce.

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 · You can tap into the earned equity on your paid-off home with a cash-out refinance. A breakdown of popular options plus advice from a loan originator.

A cash-out refinance in which you tap into your home’s equity and increase your home loan indebtedness typically has the most stringent equity requirements – about 25 to 30 percent. A no-cash.

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