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Answers (4)
- Ryan Halset, "RyanHalset"
- Contributions:730
Yeah - as Lewis mentioned - more info required. Do you want to keep your Home Equity Loan (re-subordinate it), or roll it into one new loan with your first lien? Value of the Home, Equity Position, Credit, Type of Loan, etc...all info that would be helpful...
- Metro Indy Expert.
- Contributions:197
with rates being as low as they are now that heloc is probably costing you very little. The issue is knowing when rates will start climbing you may be in trouble. You could refinance your first and the heloc into one loan at a very low rate today. Also, it may be good to leave the heloc open for future emergencies.Best bet is to find a good mortgage broker and ask lots of questions.
- Saviya Rowland, "Live Locally"
- Contributions:1
Make contact with a mortgage adviser. Interview them and see if they are a right fit for you. They will have direct questions for you to see if you qualify to refinance right now.
I would recommend talking to a mortgage broker and not just a bank. Most mortgage brokers can shop around best rates for you unlike banks can only use their own financing.
I hope this helps and points you in the right direction.
I would recommend talking to a mortgage broker and not just a bank. Most mortgage brokers can shop around best rates for you unlike banks can only use their own financing.
I hope this helps and points you in the right direction.
- Lewis Poretz, "High Quality Advice"
- Contributions:219
Help us out with a bit more info -
+ How much is your home worth today?
+ How much do you owe on the first?
+ How much do you owe on the second?
+ How much is your home worth today?
+ How much do you owe on the first?
+ How much do you owe on the second?
if i have a home equity loan and want to refinance, what do i do first
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