Posted on: 18th Sep, 2009 08:18 am
i have an arm at 8.75%. i have $105,000 in equity in my home. i want to refinance to get out of the arm. the bad news is my credit score is 602 with equifax. should i wait until it reaches 620 before i start applying?
By waiting to reach the 620 mark, you will save yourself about a half of a percent in the Interest Rate. Ultimately it is up to you, but if you're willing wait it out it will be beneficial in the long run. I hope this helps...
allenboys, it was really not necessary to post your query on three different forums. for future reference, please post only once. thanks.
