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How Much Can You Borrow When Mortgage Refinancing?

should-i-refinance-my-mortgageIf you’re thinking about taking advantage of today’s best refinance rates on your mortgage refi you might wonder how much you can borrow on your new home loan. There are factors including your gross income and debt-to-income ratio along with your credit score that also impact the amount you can borrow when mortgage refinancing. Here’s an article from TheTruthAboutMortgage.com that sheds some light on the question: How much can I borrow when refinancing my home?

When speaking of affordability, you’ll need to consider both your appetite for housing costs and those of the bank or mortgage lender eventually granting you financing. Sure, you’ve got some flexibility, but the lender will have well defined debt-to-income ratio requirements that will determine how much you can borrow.


Once you’ve been approved for your refinance mortgage loan it’s important to pay close attention to the fees you pay for loan origination and closing costs. The reason these fees are so important is that you’ll have to recoup these expenses before gaining any benefit from your refi. Sure, you’re getting a lower payment amount because mortgage interest rates are so low; however, how much you’re paying to get that lower payment determines how good of a deal you’re getting on your new home loan.

There are junk fees that do nothing but lengthen the amount of time it takes to recoup your closing costs. These unnecessary fees include mortgage rate lock fees, application fees, loan processing fees, and overpaying the loan origination fee. You can learn more about getting the lowest refinance rates for your next home loan without paying unnecessary fees by checking out my free Underground Mortgage Videos.

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Check out my free Underground Mortgage Refinancing Videos and you’ll discover how easy it is to save thousands of dollars getting the best refinance rates without paying unnecessary markup or lender junk fees.

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Here’s a sample to get you started paying less for the loan origination fee from today’s best mortgage lenders

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