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IP360 PRESENTS: THE OFFICIAL CREDIT AND HOUSE HUNTING THREAD

devlyn said:
I have. Came out better and lower interest rate and payment dropped by almost $200... but thibg is started the 30 years again. but worth it... not staying in it for 30yrs
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This not my forever house so I don't really care about that but something gotta shake.

I could use some relief
 
AP21 said:
This not my forever house so I don't really care about that but something gotta shake.

I could use some relief
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Shop around, ask the mortgage company you have your loan with now see what they offer for refinancing.
 
Another question was how long do I have to wait to resell once I refinance?
 
IP360 said:
How long does one has to wait in order to refinance?
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AP21 said:
Another question was how long do I have to wait to resell once I refinance?
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Typically you can do it about 6 months in but it's best to make sure you are getting a lower interest rate 1st no since in refinancing if that is not happening or if you got the funds to pay of PMI if you happened to have that.

Now to sell after refinancing you may want to wait until you have built some equity in the home before you sell. But you will need to check with your lender just in case there's any policy on time. When you refinance your mortgage the amount you owe will increase so you need to make sure that amount doesn't seriously exceed how much you can sell your home for.

As long as you can pay back your lender and pay your other expenses at closes then you have the green light to sell. So key note in that...build that equity 1st. and that all depends on the area you live, schools, if it's building up etc.
 
devlyn said:
Typically you can do it about 6 months in but it's best to make sure you are getting a lower interest rate 1st no since in refinancing if that is not happening or if you got the funds to pay of PMI if you happened to have that.

Now to sell after refinancing you may want to wait until you have built some equity in the home before you sell. But you will need to check with your lender just in case there's any policy on time. When you refinance your mortgage the amount you owe will increase so you need to make sure that amount doesn't seriously exceed how much you can sell your home for.

As long as you can pay back your lender and pay your other expenses at closes then you have the green light to sell. So key note in that...build that equity 1st. and that all depends on the area you live, schools, if it's building up etc.
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i have about (w/o an unofficial appraisal) maybe about 35k in equity. The plan is to see about getting PMI removed, get refinanced and use the equity to pay something off. My homes comps are killing the rest of the subdivisions whose homes are selling for much more than what i paid, so im confident that at the very least, i will get the market value should i choose to sell. And like i said, this isnt my forever home, but i need something to shake like yesterday.
 
How fast do you expect your agent respond to your questions? Mine has not responded to my questions from 2 days ago.

Errrrrrrr!

I don't think this is normal.
 
Judge Judah said:
That's what's up man. Congratulations.
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But uh...whens the housewarming party @IP360 ....

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For real tho...good lookin out wit all the info you provided about the area. That helped big time.

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