I want to refinance to a 15-year fixed mortgage. The balance on my mortgage is $377,000. Will I have to put money down?

My credit score is excellent.

Asked by Marinaathomas

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Answered by Greg Fischer, Mortgage Broker in Manchester, NH
Probably not.

If you have a current 30-year loan, and are looking to refinance into a shorter term with a lower rate, as long as you have the required value in your house, you should be fine. If your house were only to appraise for $370,000, then yes, you'd need to pay down the new note to qualify. If you have some equity, there is no required down payment like there is on a purchase. | 04.08.16 @ 14:41
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$commenter.renderDisplayableName() — {comment} | 12.05.16 @ 04:51
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Answered by Beth
If you need an urgent loan from a trusted firm with good working conditions and relationship, then you are free to contact us. We offer loans at the affordable rate of 2%, working with what is convenient. If interested, contact us through email: jonfunding@gmail.com | 07.10.16 @ 10:32
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$commenter.renderDisplayableName() — {comment} | 12.05.16 @ 04:51
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