True to their word, mortgage companies are stricter with requirements when it comes to credit scores.

If you paid on your mortgage for a while now and you want to reduce your monthly payments, it may be possible through refinancing.

You see, the value of the property has been on a steady increase over the years, which guarantees an increase in your equity.

Lenders need to know the value of your home for loan and hire a professional appraiser for this task. As a smart consumer, be educated on the modalities for the application and your rights when processing the application.

Consider the time you intend to stay in your home with the possible movement of your work, family growing, downsizing the home, changes in lifestyle and much more.

For example, if you refinance and you choose to go with an adjustable rate loan you took out a new risk, interest rate more and more fluctuating.
mortgage how much can i borrow calculator getting a loan to build a home consolidation home loans