Figures and Terms to Know When Refinancing Your Home (Part One)

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?? ????????????.You'll have an easier time qualifying for a new loan with 20% equity in your home. You can find this number by dividing what you owe on the current loans for your house from its appraised value or original purchase price.

?? ???????????? ??????????. I pull an in-depth credit score from all three bureaus if you plan to move forward with refinancing. I can help you find ways to improve your score if needed. The better the score, the better the rate and fees are. Sometimes you can spend money to pay down debt to reduce the cost of the loan.

?? ????????-????-???????????? ??????????. While having a high income and stable job may work in your favor, you don't want your monthly housing payments to drain all your money. You can calculate your debt-to-income by adding how much money is going out and dividing them by your gross monthly taxable income.

?? ?????????????????????? ????????. We can work together to find several ways to reduce the cost of refinancing, but it's typically between 3-6% of the new loan amount.

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