Refinancing is the replacement of an existing mortgage with another one under different terms and rates. Here are some states where refinancing odds are most in your favor, so read on for more!
Montana
- Avg. loan amount: $223,712
- Refinance approval rate: 77.4%
Idaho
- Avg. loan amount: $200,574
- Refinance approval rate: 77.8%
Wisconsin
- Avg. loan amount: $163,851
- Refinance approval rate: 78%
Colorado
- Avg. loan amount: $281,363
- Refinance approval rate: 78.4%
Minnesota
- Avg. loan amount: $207,420
- Refinance approval rate: 78.6%
Massachusetts
- Avg. loan amount: $302,486
- Refinance approval rate: 78.8%
Nebraska
- Avg. loan amount: $161,506
- Refinance approval rate: 78.8%
Washington
- Avg. loan amount: $299,509
- Refinance approval rate: 79.3%
South Dakota
- Avg. loan amount: $182,069
- Refinance approval rate: 80.1%
North Dakota
- Avg. loan amount: $192,419
- Refinance approval rate: 80.5%
Utah
- Avg. loan amount: $248,151
- Refinance approval rate: 82.4%