How to Know if You Should Refinance or Sell Your House in Louisville

Deciding to sell your home can be tough!  Many people are strongly attached to their homes and despite changes in their life, they can find it difficult to make the decision to sell. Having built equity in the home over a long period of time, one consideration is refinancing which can help resolve financial issues that may have brought up the subject to sell in the first place. We will discuss how to know if you should refinance or sell your house in Louisville.

Too Much Space

Considering remodeling? Or wondering if you should refinance or sell? If you are ready to move into your golden years, selling your house in Louisville may be a better option for you. Downsizing may better suit your current lifestyle. If the kids have all left home, you may find yourself with a large home that is difficult to take care of.  Also, you might find yourself re-evaluating your home and no longer happy with how it currently looks.  These may be signs that it is time to sell.  This option would allow you to find a home better suited for you.  Many retired couples find living in a retirement community appealing due to the lifestyle and amenities these communities provide typically at a lower cost. If you are considering remodeling and making serious repairs to your property by borrowing on the home, you may benefit from selling the home as-is and possibly avoiding thousands of dollars in repairs.

Refinancing Your Mortgage

In order to qualify for refinancing your mortgage, your lender will require you to meet stringent credit criteria. If you are considering refinancing because of financial distress, you may benefit greatly by selling your house in Louisville. Especially when a poor credit rating equates to higher interest on loans. If you have not lived in the home long enough to build a large amount of equity and the new loan total is more than 80% of the current market value for the property, you will likely have to add private mortgage insurance payments. In general, this fee is added to your loan payment until your balance falls below the 80% mark again.   Always factor this in when deciding whether or not to refinance or sell your house in Louisville! 


If you are already having trouble making your mortgage payments and wondering if you should refinance or sell, it may be best to sell your house in Louisville. By selling the property before any proceedings begin, you can relieve your stress and avoid the unfavorable marks on your credit report for the next seven years. If you select to work with a real estate agent, you will be responsible for getting the house “market” ready.  This can can included updates/repairs and costs for professional staging and photographs.  Also, you need to remember to deduct the realtor’s commissions and fees as well as any closing costs you will be responsible for at closing from your net proceeds. Understand that listing in the traditional method, by either a real estate agent or listing your home on your own, does not guarantee a sale and can be expensive even if the house does not sell. 

Ready to rest easy at night?  Making a direct sell to FairSquare House Buyers may be the best solution for you. How you sell your home under these conditions could mean the difference between catastrophic loss and saving your financial future. FairSquare House Buyers provides you with a guaranteed sale and a quick closing date.  FairSquare House Buyers provides you with a simple, straightforward process. Our goal is to meet the needs of your circumstances and help answer any questions or concerns you may have about what is right for your situation! At FairSquare House Buyers, we take the time to listen. Ready to learn more about if you should refinance or sell your house in Louisville? Call FairSquare House Buyers at 502-417-7467 or send us a message to learn more about what we can offer you!

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