Do you lose your down payment when you refinance?
Do you lose your down payment when you refinance? Do you need to put money down to refinance a mortgage? More often than not, you don't need to put down money to refinance your mortgage. For a cash-out refinance, on the other hand, there is no down payment requirement. Generally, lenders limit the amount you can cash out to 80 percent of the equity in your home. Can you refinance without 20% down? When it comes to refinancing, a general rule of thumb is that you should have at least a 20 percent equity in the property. However, if your...