Re: Refinance before investing? - Posted by Chris in FL
Posted by Chris in FL on June 07, 2006 at 14:00:12:
You already have some advice saying to refinance, so I will play devil’s advocate and point out the other side. Your two year old loan has some seasoning, which goes away with the new refi, and it could possibly pull your credit score down some. 100 points may or may not lower your interest rates considerably - you need to check into that with your lender(s). Lastly, will you have to pay closing costs/fees on the refi, and, if so, are the fees more than made up for by the lower rate or not (note that how long you intend to keep the refi loan in place will affect this decision)? Hope that helps. Best wishes!