how much equity do i need to refi a house 5%-10%?

Answer 1

You don't need any particular amount, so long as you have cash to pay the closing costs and points of the new loan.

If you want to use existing equity to pay for those costs and points, then you have to get an estimate of closing costs and compare that with the amount of equity you have. As long as equity is greater than closing costs, you're OK.

The only other thing to think about is, how much time will it take to amortize the closing costs and points (old monthly payments minus new monthly payments times number of months equals closing+points). If you plan on staying in your house longer than that number of months, then go for the refi. If you plan on moving out before then, you shouldn't refi.

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Answer 2

This is dodgy!

You shouldn't refinance your house unless your equity is greater than 40%, and then only for another 20% max.

Example, house worth 100k, mortgage 50k, equity = 50 %
Only borrow max further 20k, total = 70k