Close

See current mortgage rates on Zillow Mortgage Marketplace

Need help on refi steps

Profile picture for Lorelei7669
My partner and I have a 5 year fixed and have decided that rather than try to sell we would rather refi since we have some neighborhood clean up going on. I would like to start my own business next year therefore we are looking for ways to reduce the debt to income ratio. We need to pay off or down about $5000 in credit card debt and we are also planning on trading in both our cars and getting one vehicle. So my question is in what order should we do this (house, car, credit cards)? In order to get a good interest rate for the new car and the refi I need to reduce the cc debt however I need to lower car and mortgage payments in order to have the extra cash to pay off the credit cards and for the closing on the refi. The idea behind the refi is that we have equity in the house and may need it for a small business loan.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

June 28 2010 - Little Rock
 Share
 RSS

Replies (2)

Profile picture for Lorelei7669

Any suggestions on the order in which to do the above?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

June 28 2010
Profile picture for LUXURY HOME LOANS CA
I would start with the cars. You may not have enough value in them to do the trade to one car. Or, this will require funds to make up the deficiency. This is probably your largest payments when computing your DTI. .... Happy funding, Rudi
  Flag content
Close
Report a Problem

Please enter a valid email address.

Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.

0Yes

June 28 2010
 
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Have a question? Ask it here.

What's this?
Close

By starting a discussion, you can expect more of an interactive, back-and-forth experience where the conversation can go in many different directions.

Or start a discussion
Related Discussions
Profile picture for Rudi Hofmann
DiscussionNeed help on refi steps
  • Last reply by Rudi Hofmann
  • June 28 2010
Compare Mortgage Rates

See Little Rock mortgage rates

Be A Good Neighbor

Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy