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Mortgage refinancing

Mortgage Refinancing Requirements There’s no doubt that the right refinance deal can bring you many financial benefits. But not everyone can qualify for mortgage refinancing. You must own enough equity in your home and have a low debt-to-income (DTI) ratio to be eligible for traditional refinancing loans. Here are some general requirements you should meet to be able to refinance your mortgage:

At least a 20% equity in your home A DTI ratio that is below 43% A credit score of at least 620 for refinancing a conventional loan A credit score of 580-620 for refinancing government-insured loans Sufficient cash to cover the loan’s closing costs

We offer a wide range of home mortgage loans for different borrowers' needs. Get the lowest interest rates with the top real estate brokerage in California.

If you don’t qualify for conventional mortgages, it doesn’t mean your dreams of homeownership are out of reach. With our Federal Housing Administration (FHA) loans, you can make your goal of owning a home a reality. Let Standard Lenders help you live the American Dream. What is an FHA Loan? An FHA loan is a government-backed mortgage that is guaranteed by the US Federal Housing Administration. The FHA itself does not provide the loans but insures the mortgages that are issued by FHA-approved private lenders. This loan product is designed to help low to middle-income Americans that don’t qualify for conventional loans to become homeowners. https://standardlenders.com/fha-loans-in-california/