2006-08-18 06:35:18 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
When your home has appreciated in value since your last re fi, the interest that you'll get is lower that what you currently have, the cost of the re fi is very small and no points and the new loan is fixed. Although the interest rate didn't rise recently is has been for the last 17 meetings of the Fed
2006-08-18 07:50:20 · answer #1 · answered by madrax 3 · 0⤊ 0⤋
if you need money, interest rate is lover at least 1% of your current note, or if you need to pay other debts and this way it will lover your monthly expenses.
if you just want to cash out without good reason- don't do this, your home is not a ATM machine and some day we all need to pay off our mortgages.
2006-08-21 16:00:21 · answer #2 · answered by bianca 4 · 0⤊ 0⤋
When cost of financing is low and you have good credit and sufficient income to fund the increase in mortgage payments.....
2006-08-18 06:56:33 · answer #3 · answered by boston857 5 · 0⤊ 0⤋