Posted on: 03rd Jun, 2009 07:28 am
can you give us an idea as to whether we would be better off refinancing/consolidation...we are looking to refinance and consolidate high interest high balance credit cards. we have received an off from advanced financial services for a preapproved loan of up to 271,000.00 at a fixed rate of 5% (5.458%apr).
my husband has been at his job for 7 years. i am a registered nurse. i have been working per diem but start a new fukk time job on monday. my starting hourly rate is $25.00 per hour. my current house payment is 1300.oo month.
any help you can offer will be appreciated.
sincerely,
margaret johnson
my husband has been at his job for 7 years. i am a registered nurse. i have been working per diem but start a new fukk time job on monday. my starting hourly rate is $25.00 per hour. my current house payment is 1300.oo month.
any help you can offer will be appreciated.
sincerely,
margaret johnson
Hi maggie,
Are you planning to stay in the property for a longer period of time? If you plan to stay in the property for say 5-8 years, then refinancing the property would be a good idea. You'll be able to recover the closing costs within this period of time. However, if you do not intend to stay in the property for so long, then I don't think refinancing is a good idea.
Thanks
Are you planning to stay in the property for a longer period of time? If you plan to stay in the property for say 5-8 years, then refinancing the property would be a good idea. You'll be able to recover the closing costs within this period of time. However, if you do not intend to stay in the property for so long, then I don't think refinancing is a good idea.
Thanks