Know: Whether you have a second lien
Do you have a home equity loan or home equity line of credit? If so, find out how much you still owe on it.
Add that amount to the amount you owe on the main mortgage. Take that combined amount, and divide it by the home's estimated value. For example, if you owe $80,000 on the first mortgage and $10,000 on the home equity line of credit, you owe a total of $90,000. If the house is worth $100,000, then your total debt on the house is 90 percent of the home's value.
Do your calculation, then write down the percentage under the heading: "Estimated combined loan to value." The Bankrate loan-to-value calculator can do this for you also.
When you ask about a refi, the lender will want to know these two percentages.