Question about refinancing - Posted by Ed Eaton

Real Estate Investing
1

Posted by Stacy (AZ) on February 05, 2001 at 10:34:41:

You can refi in a year, sure. Some things to consider:

Will the cost of a refi justify the lower payments, taking into consideration the length of time you plan on owning the house?

Will your current loan have a prepayment penalty that prevents you from refinancing in a year?

Stacy

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Question about refinancing - Posted by Ed Eaton

Posted by Ed Eaton on February 05, 2001 at 10:08:24:

I’ve stumbled on a great deal, but I have a question about refinancing. The only drawback to this deal is that I would have a 1st mortgage with a relatively higher interest rate. In about a year or so, after I’m done fixing up my credit, can I simply refinance to get a better/normal interest rate?

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Re: Question about refinancing - Posted by dewCO

Posted by dewCO on February 05, 2001 at 21:36:30:

Also consider that you don’t know where interest rates will be in a year, hopefully they are the same or lower, although they are pretty darn low right now! And do you know for sure your credit will be ready in 1-year?