🏡 Do You Need a Down Payment to Refinance? Quick answer: No. When you refinance, your home equity acts as your down payment. That’s what makes refis different from buying a home. But here’s what you do need to know: 💰Closing costs still apply, usually 2%–4% of your loan amount. ➡️ You can pay them upfront ➡️ Or roll them into your loan (no money out of pocket, but you’ll pay interest on that amount). Be Careful, some lenders will offer “no-closing-cost” refis. They do this by giving you a high

Mortgage Refinance and Home Refinancing from Bank of America

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