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Refinance or wait?

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mbrockman



Joined: 04 Jun 2006
Posts: 1

PostPosted: Sun Jun 04, 2006 5:07 am    Post subject: Refinance or wait?Reply with quote
My husband and I have been trying to decide what to do for months. We have an equity line on our home (which is our only mortgage). We use it to buy and sell investment properties so we really like the flexibility it provides. However, it is adjustable rate and we are concerned that we should refinance to a fixed rate. We have been checking and closing costs seem so high and the rates are mostly over 6% - our current line is prime - 1/2%. Should we go ahead with this or keep waiting in hopes rates will get better?
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The Mortgage-Pro
Site Admin


Joined: 19 Jan 2005
Posts: 2248

PostPosted: Sun Jun 04, 2006 11:00 pm    Post subject: Reply with quote
Which state are you located in? What is the value of your home? What will be the amount of the refinance?
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