Buy A New Home

I want to buy a new house and keep my old. Should I refinance home interest rates for the better?

I'm considering buying a new home in a few months, but want to keep my existing house. I will now benefit from an interest rate much lowest on my existing mortgage and want to know if my current mortgage refinancing will hurt or hinder my qualification for a mortgage ready when I buy my new home.

Well, refinancing at a lower rate will help if you stretch the payments – the lower rates and longer time will be the lowest payments. However, you still qualify for the next mortgage based on income and debt ratio. He comes to how much of your income is absorbed by the existing mortgage and how much would be taken by the new mortgage. Obviously, it is far from enough information in your question to even begin to answer.

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