How much can I borrow without increasing my payment?
How much can I borrow, if I refinance - without increasing my current monthly mortgage payment? Does it cost more to borrow more? The interest rate keeps dropping and my house is fairly stable in value. I am in a good position, but feel that i might be able to get in a better one. by cdleco_474_713 from Lincoln, Nebraska. Aug 24th 2011
Patrick McCarthy (PatrickM)
#22 ranked lender in Ohio - 196 contributions
HiIn order to tell you exactly what you want to know, I would need to know what current rate, mortgage balance and length of loan you have. It does not cost more to borrow more, but there are closing costs. They can be absorbed, depending upon your loan size. You have many options and to get a more detailed answer, I would need to talk to you to get the info mentioned above.Feel free to contact me. Hope this helps. Pat McCarthy, Stonegate Mortgage NMLS# 621925
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