That's one point to consider when deciding whether to lump your credit card debt into a single payment and transfer it to a home equity loan. If so, think twice before eating up the equity you've built in your house with the kinds of purchases made on credit cards. Facts About Refinancing Last week, refinancing accounted for 55 percent of mortgage applications, according to the Mortgage Bankers Association. Forty-five percent of total mortgage loans outstanding are ripe for refinancing, according to Credit Suisse First Boston , an investment bank. If your mortgage rate is 8 percent or higher, run the numbers on an online mortgage calculator to see if refinancing makes sense for you.
Potential buyers can get a loan approval online as well as use calculators and other information.