Posted on: 28th Jun, 2009 12:43 pm
hi,
i have a first mortgage balance of 218k with interest rate 6% with one bank. i have a hel balance of 29k with interest rate 5.49% and heloc of 85k at interest rate 5% with another bank. i want to refinance. what is the best way to refinance? do i consolidate all loans or do i refinance the first mortgage and do cash out to pay the hel and heloc?
thanks!
i have a first mortgage balance of 218k with interest rate 6% with one bank. i have a hel balance of 29k with interest rate 5.49% and heloc of 85k at interest rate 5% with another bank. i want to refinance. what is the best way to refinance? do i consolidate all loans or do i refinance the first mortgage and do cash out to pay the hel and heloc?
thanks!
Hi Guest!
Welcome to forums!
In my opinion, it would be better if you could refinance and consolidate the 3 loans into one. This will help you in paying off the loan easily as you will have to pay for one loan only.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
In my opinion, it would be better if you could refinance and consolidate the 3 loans into one. This will help you in paying off the loan easily as you will have to pay for one loan only.
Feel free to ask if you have further queries.
Sussane