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Refinance - Do We Need 20% Equity to Avoid Paying Alamo Again?
Danny Ellis says if we want to refinance after two years fixed period, do we need to be a 20% equity to avoid paying Alamo again? So presuming that she's paid at first time around going in at maybe a 10% deposit, how do banks determine value, send another valuation assessor question mark? What if they value it lower than you bought it for if the market has now declined asking for a friend? Yeah, that's a great question. And it's something that's going to be relevant to a lot of people now. Daniel: There's not a lot of reason to refinance if you are over that 80% mark or over the 85% mark.
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