My little blog about equity loans
Unfortunately, fewer people are eligible for the lowest rates due to higher credit score and down payment requirements. Those particularly affected are homeowners whose home values have decreased significantly since they purchased their properties. They now have less equity and may not qualify for refinancing for that reason. Calculating the costs and benefits of refinancing mortgage loans, as well as examining credit files, credit scores and current equity should be part of any decision to refinance. If you wish to refinance, shop around online to determine the interest rates and types of mortgage loans for which you might be eligible.