I HAVE THE CASH TO PAY OFF MORTAGE,BUT I ALSO WANT TO DO SOME HOME IMPROVEMENTS,SHOULD I REFINANCE SINCE RATES ARE SO LOW AND KEEP MY CASH AVAILABLE TO USE FOR IMPROVEMENTS OR BETTER TOPAY OFF MORTAGE AND GET LINE OF CREDIT WITH HOME EQUITY,WHICH WOULD BE BEST WAY TO FOR BEST INTEREST RATE AND SAVINGSWITH RATE AND CLOSING COSType the details of your question here
Evansville,IN | Nov 8th 2010
by phenoix...
Answer
by phenoix...
by bradybales
Good questions, my personal opinion would to refinance your mortgage to a lower rate and use the cash for home improvement because the a home equity home is like a big credit card. The rate is usually adjustable and you are only paying the minimum payment or the interest on it. One day rates will be going back up and you won't want to be stuck on adjustable interest rate.Thanks, Brady BalesProcessing ManagerNMLS 139842 Nov 8th 2010 |
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