In France you can refinance up to 85% of the value of your French property with a minimum loan amount of 100,000 euros.

The first step is to have a local estate agent provide a conservative estimate for the resale value of your French property.

French banks require this to start your application.

There are also transaction costs that can be financed as part of the new loan :

• Prepayment penalty on your existing loan - not more than six months interest on the amount repaid if applicable, not to exceed 3% of the oustanding capital.
• Notary costs - to register the change in the charge on your property title, about 1.5% of the new loan amount.
• Bank and broker fees - this will depend on your specific project and the bank chosen, plan on 1.5% of the new loan amount for estimation purposes.

Do note that even if the new mortgage payments are less than the previous payments, you must still financially qualify for the mortgage.