This is the phase where you know the exact amount that you can afford. At this point, you should consider your financial scenario as a whole and determine exactly what your financial goals are long term and short term.

Most of the time, you can borrow up to 80% of capital and, in some cases 125%.
The question is, where do you start? For starters, you may want to consider contacting your current lender and see if they offer any type of loan packages they might be willing to negotiate with you for refinancing rate mortgages.

Every bank does this, and because of the gap in the RESPA laws and no bank would never disclose how much they have inflated the mortgage interest rate.

It can also keep it as an advantage, especially when the property is in a privileged area.

You end up paying less in the long term, and in many cases, your monthly payments may be lower as a result of refinancing your mortgage at a lower rate.