Does it matter how much my house is worth to refinance the mortgage?

Question by marceloaneira: Does it matter how much my house is worth to refinance the mortgage?
Example, my current mortgage is 229,600 and my house is worth about 265,000(per Zillow) I’m just looking to refinance the mortgage only, without any equity cash out.

Best answer:

Answer by src50
You bet it does.

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One Response to Does it matter how much my house is worth to refinance the mortgage?

  1. infinite crisis 247 says:

    sure it does. in your case, assuming that your credit and income is good, you would probably be able to refinance. however, lets say that your mortgage was 230k and the home was worth 200k. you would not be able to refinance, as you would not receive a sufficient amount to allow lender 1 to relinquish the lien on the home, unless you provided the 30k shortfall.

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