Best Answer by Gary Smith, Realtor®

DeeDee, what does your mortgage indicate? Is there a pre-payment or other penalty? Has your homes value decreased? Do you have equity in the home. If your home is in a declining area, your lender may require a 5 percent payment available from the equity of your home. (95 percent LTV) I would check all your paperwork and speak to your current mortgage company. None of us know what will happen to interest rates or home values in the next 18 months. ... See all 4 answers