Mortgage Refinance 101
How Do I Qualify For Mortgage Refinancing?
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Qualifying to refinance your mortgage is the same as qualifying to buy a home. Your credit and income will both be evaluated in terms of your ability to repay. The lender will also look at the current market value of the home.
The lender cannot use your health as a factor in deciding whether or not to approve you. This includes the source of your income. For example, if you receive an income from Social Security because you are “disabled,” the fact of your “disability” doesn’t matter. Only the amount of the income counts.
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