Mortgage
Hello all, I'm wondering...is it easier to qualify for a mortgage on a home that is already owned free and clear VS qualifying for a mortgage on a new purchase? TIA
Mar 26th, 2017 9:29 pm
Mar 26th, 2017 10:01 pm
Mar 26th, 2017 11:27 pm
It's harder. Lenders are cautious about borrowers leveraging the equity in their homes. They scrutinize a refinance at 80% LTV much more than a purchase at 80% LTV.
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