Profile picture for paberg

Can we refinance?

Our house is currently worth appx $870k. We have a 1st jumbo mtg with $625k balance and a 2nd HELOC with $250k balance. Is there any way we can refinance our 1st to a lower interest rate (currently 5.875%)? Both loans are with Wells Fargo (originally, but now they just service them.)
  • June 20 2012 - Belmont Heights
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Answers (1)

Profile picture for Brian GFL Capital
first mortgage is approx 71% LTV which should allow you to refinance the first mortgage. you would have to subordinate the second mortgage and leave it alone. there should be some payment and rate savings for you with todays rates.
  • June 20 2012
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