Posted on: 22nd Sep, 2010 06:05 pm
we have a $40k home equity loan with wellsfargo for our swimming pool (we are in texas). our payments are $378 per month on it and we've been paying it for 5 years. can we refinance the home equity loan at a lower rate? i don't want to roll it into my house note and would like to keep it as a 2nd....but i want a lower rate.
Welcome mjanovak,
If you have equity in your property, then you'll be able to refinance your home equity loan in order to take advantage of the lower rates and better terms. You can contact your lender and apply for a refinance. The lender will look into your property equity and financial situation and let you know whether or not you'll get a mortgage refinance.
If you have equity in your property, then you'll be able to refinance your home equity loan in order to take advantage of the lower rates and better terms. You can contact your lender and apply for a refinance. The lender will look into your property equity and financial situation and let you know whether or not you'll get a mortgage refinance.
Great post, I will be sure to recommend to friends!