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Refinance loans that are the easiest to qualify for

This article will make known to you which types of refinance mortgage loans are the absolute easiest to qualify for.

Choose a type of refinance mortgage loan to learn about:

Fixed rate refinance mortgage loan

The fixed rate loan is one of the easier types of refinance loans to qualify for. When you ask for a more 'specialty' type of refinance mortgage, like the 'adjustable rate' mortgage for example, you have to have to meet higher qualification standard.

In general, to qualify for most refinance mortgage loans, in a nutshell, you gotta have either good income, good credit or a good amount of equity that you'll be leaving in your home.

So to qualify for a special refinance loan type, like the "adjustable rate mortgage" - you'd have to have better income or better credit or a larger amount of equity in your home than you would to qualify for the fixed rate mortgage.

Yeah, the adjustable rate mortgage loan has it's perks: but the fixed rate refinance mortgage is easier to qualify for, and if you need easier qualification, it's a better mortgage for you.

Apply now! Fill out the home mortgage application.

Closed refinance mortgage loan

The closed mortgage loan is another type of loan that's simpler to qualify for.

If you get a closed refinance loan for your home, you'll get a refinance mortgage loan that you do NOT have free prepayment or payout options on. In English, that means if you have a closed mortgage and you all of a sudden want to pay a larger chunk of it back, or you are suddenly able to pay off all of your mortgage before your term's up - you'd have to pay your lender a fee for doing so. It's not a drastic fee, but it ain't free.

But wait - a closed refinance mortgage can be much easier to qualify for than it's opposite, which is the open mortgage. An open refinance mortgage allows you to make prepayments or payout your loan for free. But to qualify for an open mortgage, you need better income/credit/equity than you need to qualify for a closed refinance mortgage.

So what's the verdict? Unless you supremely care about wanting to "pay-off your mortgage sooner for free" - then choose to benefit from the closed mortgage loan's easier qualification standards.

Get your refinance mortgage today: just fill out the home mortgage application.

Long term refinance mortgage loan

A long term refinance loan is easier to qualify for than a short term loan. What's long? Well, 6 years and up is long. The ceiling for a long term is usually 10 years - but I've seen them be 25 years long.

With a short term mortgage you get a lower rate - but like other specialty types of refinance mortgage loans, it's not so easy to qualify for. Lender's will be more strict about what they consider "good income" or "good credit" or "good equity" if you want a short term for your loan.

If you want to easily qualify for a refinance mortgage loan, going for a long term is a great plan. You don't have to go for a 25 year term - just make it 6 to 10 years - and you'll find it hard not to qualify!

Apply online for a refinance loan now!

Combo of all of the above

Although it's not always possible, depending on your refinance situation, you could get make it extremely easy to qualify for a refinance loan by getting this mortgage loan "combo:"

A "fixed rate" "long term" "closed" - refinance mortgage-loan. Phew!

With this type of refinance mortgage loan, you would have a rate that's fixed for your entire mortgage term. And the term length would be anywhere from 10 years to 18 years.

And you would have to pay a fee if you paid off a chunk of your mortgage before that term was up. BUT - It'd be a refinance mortgage type that's sure easy to qualify for!

Apply for a refinance mortgage today!

Find out more information about home refinance mortgage loans, by contacting The Mortgage Store Online's brokers. Just use the refinance contact form or call them at 1-866-880-2577.

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