Homeowners with no equity may qualify for a 125 mortgage refinance loan. 125 mortgage loans have unique guidelines for refinancing. Mortgage payments must be on time with the exception of one 30-day late. Now borrowers can refinance high interest loans and credit cards with a 125 mortgage. These no equity loans are second mortgages, so you don't need to touch your existing mortgage if you don't want to. Bridge can help you find 125 refinance lenders who provides 125% refinancing with cash back second mortgages and online refinance loans. 125 home equity loans are not easy to qualify for but home improvement loans to 125% may be available for good people with excellent credit.
Borrowers with good credit may qualify for home mortgages up to 125%, while consumers with poor or fair credit mat qualify for refinance loans from 90-100%, depending upon loan amount and credit score. First time homebuyers do qualify for these second mortgage loans if they have lived in their home for 6 months or more. In most cases, credit scores must be good to qualify for no equity loans.
Learn more about cash out opportunities for bill consolidation, fixed rate refinancing and home improvement projects.
Home values across the country have begun to taper off. Some areas in California are reporting depreciation, and some areas in Florida, Virginia and Maryland are reporting slight appreciation. Most of the country is reporting flat home sales, and many people are concerned that home values may actually begin to decrease in value. Critics call this a housing bubble, and some anticipate the bubble will burst, as the interest rates continue to climb.
How will people get cash out of their home?
As many of you already know, consumer debt is at an all-time high, and if you have credit card bills mounting each month it may be time to consider a 125% second mortgage. This 2nd loan, requires no equity, and the loans can even exceed the value of your home.
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