I currently have an ARM loan refi on my house, but am hearing that the refi loans now are at the lowest percentage rate.
With so many loan scams out there and finance companies looking to get you to do HAMP or house protection warranties, which is the safest way to refinance at this time? would it be with the same loan company that I have my current loan under?
I’m concerned about the impression to my credit score (currently 734-744) and the impression on the refi. Probably need to finance about $ 18-20k. I have no credit card debt – only the mortgage.
1) Does the length of the loan have an impression? I can qualify for those 0% interest loans – Chevy’s is up to 72 months.
2) Will it mess up the refi to have a car loan plus the mortgage?
Anything else I should worry about?
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I have a 45 day lock on a refi and another company told me it’s possible to get a lower rate shortly to the tune of about a half percent. If I already committed to the first refi but haven’t clogged, can I back out and only pay the money POC if the rate with the other company is indeed lower?
We have about $30k in equity on our home, and currently have a 30 yr fixed at 6.9%. I’m not sure if refinancing will help or hurt us. My student loans are at 7.22, but I only owe another $3500, and my auto is 1.9% and I owe about $6500. I thought about paying those off with the cash from the refi – is that a terrible thought since the auto loan is at a lower rate? I thought since the mortgage interest is a tax right off and the auto loan isnt…?
If we aren’t sure how long we’ll be in this house, is refi a terrible thought?
I’m pretty baffled about this – any help would be greatly appreciated.