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When refinancing a mortgage to take advantage of a new interest rate, do they take into account the current appraisal of your home?
When refinancing a mortgage to take advantage of a new interest rate, do they take into account the current appraisal of your home? If you get into a 400k house at 7%, and the interest rate goes down but the house prices go up to accommodate, when you get refinanced, is it just a wash at that point or do they take current house prices into account when refinancing?
submitted by /u/Unfiltered4you
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