Comments on: what will be the refinance amount be base on, the original amount or the newly appraised amount? http://www.refinance--blog.com/refinance/what-will-be-the-refinance-amount-be-base-on-the-original-amount-or-the-newly-appraised-amount Refinance Information and Deals Sun, 12 Feb 2012 03:28:44 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Rush is a band http://www.refinance--blog.com/refinance/what-will-be-the-refinance-amount-be-base-on-the-original-amount-or-the-newly-appraised-amount/comment-page-1#comment-1497 Rush is a band Tue, 21 Jul 2009 18:22:31 +0000 http://refinance--blog.com/refinance/what-will-be-the-refinance-amount-be-base-on-the-original-amount-or-the-newly-appraised-amount/#comment-1497 <a href="">Shannon</a> When you apply for a loan it goes through a process called underwriting (to determine risk for the lender). Part of the risk equation is the value of the property - TODAY. When you refinance, they will use today's value in making a decision and determining the loan-to-value ratio. If these numbers aren't acceptable, they won't make the loan. good luck! ps - original loan and original value are currently irrelevant. Shannon

When you apply for a loan it goes through a process called underwriting (to determine risk for the lender). Part of the risk equation is the value of the property - TODAY. When you refinance, they will use today’s value in making a decision and determining the loan-to-value ratio. If these numbers aren’t acceptable, they won’t make the loan.

good luck!

ps - original loan and original value are currently irrelevant.

]]> By: effeykins http://www.refinance--blog.com/refinance/what-will-be-the-refinance-amount-be-base-on-the-original-amount-or-the-newly-appraised-amount/comment-page-1#comment-1496 effeykins Mon, 20 Jul 2009 09:29:02 +0000 http://refinance--blog.com/refinance/what-will-be-the-refinance-amount-be-base-on-the-original-amount-or-the-newly-appraised-amount/#comment-1496 <a href="">Tom</a> Part of the problem that caused the "mortgage crisis", is that folks were allowed to take out mortgages totaling more than the value of the home. Don't count on that happening again in the near future. If you refinance, the new mortgage will be based on the current value of your home. Tom

Part of the problem that caused the “mortgage crisis”, is that folks were allowed to take out mortgages totaling more than the value of the home. Don’t count on that happening again in the near future.

If you refinance, the new mortgage will be based on the current value of your home.

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