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When to refinance 1st home when purchasing 2nd home?

I currently own a condo by myself in Louisiana and am about to purchase a house with my fiance in Florida for our 1st house together. I will be starting school out there, so we will only be on 1 income for about 4 years. My question relates to my condo. Right now my interest rate on my FHA loan is 5.875, so I definitely need to refinance if I am going to rent. I decided to rent because right now I don't think I could sell my condo for what I owe on it, especially after taxes and real estate commission. So right now I think renting would be best. But anyways...Would it be best to refinance before purchasing the house in Florida or wait until after we purchase the house. We both have excellent credit, so I don't want to hurt that at all. I can't seem to find an answer anywhere online that I can find to help me understand the best options for this situation. Any advice?

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May 16 2012 - New Orleans
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Hello user3732025,

I would recommend reaching out to a lender and seeing what type of advice they have to offer.  You can search for one in your local area by using our professional directory. 

We appreciate your post and thanks for using Zillow advice.

Thanks,
Candace
Zillow Customer Support
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May 18 2012
 
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