ANSWERS: 1
  • You can refinance your home as many times as you need to stay in good financial condition. When loan terms are good, refinancing can lessen your financial burden.

    No Rules

    No rules limit the number of times you can refinance your home. Taking a second mortgage is like taking a first mortgage.

    As Many As You Choose

    You decide the number of times to fit your financial plan. How much you can afford limits your choices.

    Financial Plan

    New loan borrowers calculate how the new interest rate affects their monthly payment. The payment amount can drop if the interest rate has fallen more than 1 percent.

    Costs

    Thoughtful borrowers consider all loan costs before deciding to refinance. The closing cost might be large enough to cancel the advantage gained from a lower interest rate for 2 years or more.

    Qualifying Each TIme

    When lenders assess your eligibility for a loan amount, they consider your income, home value, debt and credit score. Each time you refinance, your wealth has to be enough to enable you to make the payments while handling your debt and credit.

    Source:

    When to Refinance A Mortgage at Lending Tree

    Refinance in the ABA Family Legal Guide on FindLaw.com

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