do you need a down payment to refinance

obama 15 year mortgage program Making Home Affordable – Official Site – Official Program of the U.S. Department of the Treasury & the U.S. Department of Housing and Urban Development.. a HUD-approved housing counseling agency help you understand your options, prepare your application, and work with your mortgage company. contact A Housing Counselor

If interest rates have come down since you applied for your car loan, it’s worth trying to refinance – chances are that you’ll pay less money in interest payments if the interest rates have gone down.

Reducing your payment is usually the. really knock down that monthly payment.. For example, if you've had a 30-year loan for three years, you have 27 years remaining.

Take these steps to find out if you have enough equity in your home to. by the disappearance of low- and no-down payment mortgages,

What do I need to consider when refinancing one home to. – You can make the purchase of the new home contingent on the sale of the first if you need to get the equity out of it to make the 20%. Do NOT refinance the first just to pull out the equity to make a down payment. What You Should Know About Down Payment Assistance.

3 percent down mortgage 97% LTV Options – Fannie Mae – Fannie Mae offers 97% LTV/CLTV/HCLTV financing options to help lenders serve qualified home buyers and to support refinance of Fannie Mae loans. This is part of our ongoing efforts to expand access to credit for creditworthy borrowers and to support sustainable homeownership.

Educate yourself on what refinancing can and cannot do for you.. or to pay down credit card debt, it is best to sit down and put to paper exactly how you will.

You don’t need a down payment. None whatsoever. Do You Need A Down Payment To Refinance – – A Consumer’s Guide to Mortgage Refinancings – When you refinance for an amount greater than what you owe on your home, you can receive the difference in a cash payment (this is called a cash-out refinancing).

A home loan refinance can save you money — especially with today’s low rates. But, even WITHOUT a refinance, there are ways to save money on your mortgage.

15 vs 30 year mortgage pros cons Financing: Pros and cons of 15 year, 20 year, 30 year loan. – pros and cons of 15 year, 20 year, 30 year loan. Asked by amy, Plano, TX Tue Jun 2, 2015. My husband and I are in our 40’s and planning on buying a house. Because of our ages, we are thinking of 15 year loan but I hear a lot of people suggest 30 year loan.debt to income ratio for fha loan calculator VA loan residual income calculator & VA loan residual. – VA residual income calculator. residual income is a calculation that estimates the net monthly income after subtracting out the federal, state, local taxes, (proposed) mortgage payment, and all other monthly obligations such as student loans, car payments, credit cards, etc..

A traditional down payment is not required for a refinancing, but the amount of money required is dependent on several factors. Home Equity Considerations The primary factor that determines whether a homeowner must put cash into a refinance is the amount of equity the owner has in the home.

who is eligible for a harp loan FHFA Makes a Push to Reach HARP-Eligible Borrowers in Program’s Final Months – Such loans help borrowers build equity faster than traditional 30-year mortgages, and FHFA found that borrowers who refinanced through HARP had a lower delinquency rate compared to HARP-eligible.

Here’s what you need to know. Boiled down, refinancing is when. begin with the following steps: What do you want to get out of your refinance? Would you like to reduce your interest rate, lower.