http://www.lexchoice.com/2009/06/can-the-middle-class-still-get-a-home-loan/ Steps to financial success including money management, debt, budgeting, planning, saving and goal setting. Wed, 07 Apr 2010 11:21:50 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.lexchoice.com/2009/06/can-the-middle-class-still-get-a-home-loan/comment-page-1/#comment-6915 Roy Tue, 02 Jun 2009 13:31:22 +0000 http://www.lexchoice.com/?p=469#comment-6915 I was surprised at how difficult it was for me to refinance my home loan recently. I have excellent credit and a very small debt to income ration, but some banks were still hesitant to lend me money. I don't have a lot of equity in my home yet, but rates are too good to pass up the refinance opportunity. Most lenders wanted at least 10% equity in my home before they would refinance and since home values have declined this is difficult! I was surprised at how difficult it was for me to refinance my home loan recently. I have excellent credit and a very small debt to income ration, but some banks were still hesitant to lend me money. I don’t have a lot of equity in my home yet, but rates are too good to pass up the refinance opportunity. Most lenders wanted at least 10% equity in my home before they would refinance and since home values have declined this is difficult!

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