When it comes to home refinancing, no equity is required in many cases. The home affordable refinance allows refinancing to 125%, but you must have a mortgage that is guaranteed by Fannie Mae or Freddie Mac. Additionally, you can get 100% refinancing with VA and refinance with FHA up to 96.5% loan to value. In order to get approved with these loans, you really have to have good credit and be able to prove that you’re worth the risk. Refinancing your home without equity is tricky business but it can be done if you are prepared and know what you are getting involved with. In general, guidelines for home loan refinance products have been tightened across the board, but refinancing without equity is especially difficult.

When you need to refinance your home without equity, you will need to explore these different lending options and see which one works best for your needs. The Home Affordable Refinance Program and FHA funding are great options because they are usually very flexible and provide people with the money that they need with fewer restrictions. The VA program is great for veterans who need to refinance without equity. It doesn’t matter what your situation is because these are the primary ways that you are going to be able to get 100% refinancing with no equity required.

If you don’t qualify for any of these programs, you are unfortunately out of luck. Because of the mortgage market situation, banks and lenders are trying to help but getting more cautious about just handing out loans to people who can’t really afford them or who don’t have the credit reputation to support their application. You will need to do some research and see what all of your options are so that you can get the perfect loan every time, no matter what you need.

Take the time to talk to qualified lenders to learn more about these refinancing options so that you can get your home refinanced without the hassles or waiting until it builds some value. There isn’t much in the market today that does have value, so it is going to be easy for you to find solutions that are tailored to your needs. Make sure that you take advantage of the resources that you have so that you can learn all about VA, FHA, and other lending options for refinancing to get the results that you deserve. You don’t have to have equity to refinance but you do have to know the guidelines and what you’re eligible for in terms of no equity refinancing options.

Nationwide offers multiple refinance options at a discounted rate.  Get a free quote from one of our experienced loan professionals today with no obligation.