Posted by James (fl) on August 05, 2003 at 19:39:57:
I would refi the amount owed rate and term. You will get a better rate from fannie mae… or should i say the broker will so in turn you should. Then ask them to do a second HELOC for you after the first closes. you will get the best rater possible on the first, and should be able to get the HELOC at prime or just above. Wish I was in CA, I could help you out. Contact any mortgage broker there in CA. They should be able to help you./
James (FL)
Refi’ing possibly in Dec. - Posted by Verne in California
Posted by Verne in California on August 05, 2003 at 17:11:21:
Dec 2001, Purchased a condo for our own residence. It was an 80/20 loan 2 years fixed and 28 adjustable.
Considering doing a refi soon but want to know if we would be able to use some equity (15k-20k) to purchase investment home.
Condo purchased 150K
Condo in same building sold 210K in July.
What would be a good option?
Any advice would be appreciative…
Verne
Re: Refi’ing possibly in Dec. - Posted by Galina Ilchenco
Posted by Galina Ilchenco on August 05, 2003 at 20:56:51:
I have a very good broker in Silicon Valley. He, actually, can do loans throughout all CA. What part are you in?