Can a home loan be changed later down the line?

Posted on Apr 10, 2013 in Stated Income Loans

no doc loans
by Vietnam Plants & The USA. plants

Question by hww22: Can a home loan be changed later down the line?
If I were to get a no ratio or a no doc loan could I change it to something else later to get a lower interest loan and how much does it cost to do this?

Best answer:

Answer by ??Always Singing??
You would need to refi.

Add your own answer in the comments!

One Comment

  1. A “No Doc” or even “Low Doc” loan does not exist any longer. That is what got us into the debacle of the housing crisis we are in now. People were just doing stated income loans and not proving anything.

    IF you were to get any type of loan and wanted a lower interest rate later, you would have to refinance, meaning, you would have to qualify at that time.