I would like to know if I can refinance my mortgage loan to have some home improvements done and have a lower monthly payment on my mortgage. I purchased it on april, 4, 2014.
Answers | 3
The short answer is "yes". However the longer answer to this question involves whether not you have enough equity in your home, whether or not you can qualify for the loan, and ultimately whether or not you can obtain an interest rate low enough to provide a lower payment than what you currently have. Other options you can explore are home equity lines of credit and renovation loans.
I hope this helps.