• Question
  • I do not wish to excess any equity.

    Asked by someone from Thatcher, AZ on 7/12/2018

    Is it possible to just reduce or not make the mortgage payment with out making a new mortgage, or make a new mortgage without getting equity. How high would the interest rate be ?

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  • Categories: Mortgage Refinancing, Housing

Answers

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  • Renegotiating the payment amount or payment frequency is typically not allowed, unfortunately. Good news is that yes you can get a new mortgage without impacting your equity. Check with a lender for current rates. Don't forget to shop around because all lenders are not created equal!

  • Login to rate this answer:   Answered on 8/10/2018
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.