You’d undergo a completely new mortgage loan application — similar to the process to your initially home finance loan — for your $300,000 home finance loan rather. Once authorised, $200,000 of that could be used to pay back your outdated mortgage, and also you’ll start creating month-to-month payments in your new $300,000 loan. There's also

If you decide to use a cosigner, Ensure that person is comfortable with using obligation if you can’t make home finance loan payments. Not all home finance loan applications and lenders make it possible for a cosigner, and people who do may have profits and credit prerequisites.Particular loans guideGetting a personal loanPayday Mortgage Alternat