How to refinance your mortgage
How to refinance home
To refinance a mortgage, first, all home owners must complete a mortgage application and submit it to your mortgage broker, along with any other documents requested by the broker. Next your broker will to order an appraisal report confirming the property value, and other important details lenders require to validate for all mortgage refinancing. The mortgage refinancing process is similar to the home purchase mortgage financing process, as traditional lenders will require to validate and qualify based on income and credit.
Having bad credit does not mean a home owner cannot refinance their mortgage. To refinance a mortgage with bad credit, home owners are required to obtain financing from non-traditional methods such as private mortgage, second mortgage or home equity loan, where there are no income or credit requirements.