my loan on my home is 8.25 and I would like to refinance my home I have a balance of 34,000.00

Hi. Not trying to sound like a sales person, but now is a great time to refinance! Interest rates are great. However, some of the factors the lender will consider in approving your loan includes the loan amount, term, credit rating, property value and the purpose of the loan. These are most of the factors in determining the interest rate.Keep in mind that some lenders have a minimum loan amount they will lend. Each lender has its own lending guidelines.If you have any other questions or would like to see what loan programs you might be eligible for, please give me a call at 504-313-2326. I will be happy to answer any questions you might have. You can always visit my website at www.CallTheMax.com.

Much more info required to answer your question.. First, lenders need to look at your complete loan profile to determine if you are eligible.. Credit, credit scores, income, debt to income, property value, etc... many different things go into deciding if you can get financed.. and second, interest rates also vary depending on the lending profile.. lower scores pay higher rates than higher scores.. lower loan to value's get lower rates than higher loan to value's.. and in your scenario, lower loan amounts pay higher interest rates than larger loan amounts.. in fact.. it might be difficult to find a lender willing to lend to you with such a small loan amount.. For all these reasons, you should try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

William is correct. There are many aspects to the home purchase and refinance guidelines instituted by lenders, however, with your low outstanding balance, seek a local loan professional with a reputation for great client service to help with your loan needs. They will help to guide you during the entire process. Rates are fantastic and if all is good with income, debts and credit, it could sail through very quickly. Best of luck, Scott.