Re: Is this feasible? - Posted by Paul Macdonald
Posted by Paul Macdonald on October 28, 1998 at 19:24:10:
Do the refinance. If as you say your last refi. was at too high an interest rate, than you could very possibly pull the 10K cash you want (up to 75% LTV with Fannie Mae or Freddie Mac standard cash out programs) and you could be paying less than you do now! Ask your local broker about premimum pricing on the new mortgage vs. paying discount points. That way you can choose a low or no cost refinance or buy down to get a very low, low interest rate. You pick what works best for you depending on how long you are going to stay in your house.