Refinance Home Equity Mortgage

Best Way To Refinance Mortgage/home Equity Line And Remove Co-borrower?

Question by cathoratio | Posted in Personal Finance

1st = $300K @ 5.62%
2nd = $50M @ 6.20%
Home equity is $125K @ 7.2%

Hoping to have merely two loans. Conforming $417K and Home equity that would allow up to $512M in unconditional debt so Home equity loan = $95M.

Answer: Well if you are affording the curent payments on your loans, the new payments on the changed employment you descibe will probably be a little higher (since you will have about 35k new debt and since you may not be accomplished to get the 5.6% rate that

Can I Refinance My Mortgage Without Having To Payoff My Home Equity Line Of Credit Balance?

Question by Anthony J | Posted in Renting & Real Estate

I have a mortgage & home equity hint cord of credit with the same lender. The rate on the equity loan is currently 2.5% (prime - 3/4). I was idea of refinancing my mortgage and taking out a little cash to pay off some credit cards. My call in is,

Answer: Yes, you will shortage to pay it off. You won't get a refinance with an existing lien against your house.

Refinance Mortgage Or Home Equity Loan?

Question by Bleaker | Posted in Renting & Real Estate

I constraint to get some home repairs done and have the option to refinance my mortgage at the same rate (6%) for 30yrs or go the Home Equity loan way with 7.85% for 15 years. Does anyone know if one choice is better than the other in the long run?

Answer: If you could get 6% on a readies out refinance without PMI and minimal costs, the new first mortgage would give you a lower average cost of funds and monthly payments.

On the other around, if you have to pay a couple thousand in closing

Refinance My Mortgage And Home Equity Loan?

Question by shawnj985 | Posted in Personal Finance

I have started the treat of refinancing my home equity loan from 9% to a lower rate. It currently has a equilibrium of $10K.

I have also started the process of refinancing my home mortgage from 6.8 to around 5 something expectantly. It

Answer: if you have enough equity in your home you should try wrapping these loans together into one 1st mortgage at the lowest amount possible. If you can afford the payment on a 15 year attached loan, those are probably the best rates available sort out now.

Mortgage Refinance Or Home Equity?

Question by karenldee | Posted in Personal Finance

I have some home repairs in the abutting future and am wondering whether it is best to go with home equity line of credit or righteous refinance on my mortgage. The home is a recent purchase so the mortgage rate would probably not be any lower. I'm

Answer: How much are you borrowing?

If you outstrip $100k, home equity loan interest would no longer be deductible. Then refinance might be a better choosing. Otherwise, I would agree with the first answer. Go with the better interest rate.