If I want to refinance my high interest home loan. Does my home need to be worth a considerable amount more?

Question

We do not want to take any money out, just refinance for a better interest rate

Answer 1

No..if you have to pay closing costs, you can even roll this over into the loan.  Unless you have horrible credit, you should be ok.

Answer 2

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Answer 3

Find a lender you trust.  A good one can run the numbers of what you currently pay vs what it would cost to refinance and they'll tell you whether it makes sense to refi.  

Answer 4

Usually not, but it has to be worth at least what you are refinancing it for.

Answer 5

Not at all.  Some people refinance within the 1st 6 months of owning the home.

Answer 6

Your home doesn't need to be worth considerably more. Not to steal Anthony's thunder but if you want to email me I can tell you about all of your options. Mortgages are what I do. Let me know if I can help! A rate and term re-fi is definitely possible.