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- Refi our 2nd or wait for the new Jumbo Loan
Refi our 2nd or wait for the new Jumbo Loan
Hollybear13
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Here is our situation.
We purchased our home for $600,000 last May with a Bridge loan. So our first is $415,000 @ 5.75%, we have a second $92,000 at 9.375%. We have invested about $40,000 into the remodel. We would like to roll the $40,000 which is in low rate credit cards into the loan. Should we refi the 2nd or wait until the new Jumbo loan limit takes effect and roll the 1st and 2nd into one Jumbo loan? Does anyone know when that would be. Our home value is around $625-635,000.
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