Posted on: 31st Mar, 2009 02:42 pm
can you take a first and second that you took money out in aug 2008 and refinance in to one loan at todays rates?
Yes, if your LTV is within qualifying range. What rate are you currently in?
Hi, thanks I am in Texas and you can only take out up to 80% and if you take a second you can not change your loan for one year . The rates are low and i would like to combined and get a better rate. my bank says no , so I wonder if they are right or just like me in the high rate. Thanks for any help. John
Hi jharkey!
Welcome to forums!
Your lender is correct in saying that you can refinance up to 80% of the first. Moreover, if you have taken a second loan, you'll have to wait for a year to get it refinanced. I think you will have to wait till August and then try to refinance the loan.
Sussane
Welcome to forums!
Your lender is correct in saying that you can refinance up to 80% of the first. Moreover, if you have taken a second loan, you'll have to wait for a year to get it refinanced. I think you will have to wait till August and then try to refinance the loan.
Sussane