Hi John, If you have a rate in the high 4% on the first you could do a cash out refinance and get 3.875% for a 30 year fix but will depend on score and home value. So call me at 508 802 0935 or email me at robertoliveira51@gmail.com for more info and rates info. Thank you
Hello John,For the best rates on an Equity line I would check with your local banks and credit unions. Please do not be discouraged if they say no however. Currently it is very difficult to get an equity line to go over 70% of the value of your home. If you have the equity available the next item they will look at is your credit score. Many now require a credit score of 700 or better. As many home equity lines of credit are for only 15 or 20 years you might want to consider a cash out refinance with a 15 or 20 year term. As an example, I just worked with a client who had a 5.25% first mortgage and wanted an equity line to take money to purchase an investment property. In their case we were able to do a 10 or 15 year fixed mortgage, provide them the cash they needed and their APR was lower than they could have received on an equity line. I hope this was helpful John. If you have any questions or would like additional information please feel free to call me at 603-543-3700 ext 1. Don LaPlume
check with your local bank for the best rates on line's of credit... WilliamAcres.com
Local banks are going to have the best rates for you on a home equity loan. The lower rate you'll pay on a new first mortgage won't offset the costs you'll incur to do it unless you can also reduce your term.
I would recommend a local bank or credit untion unless you have a private banking relationship with a large bank. Best of luck!
For a home equity loan or home equity line of credit, contact your local credit union. Credit unions almost always have the most favorable terms and liberal policies for quality borrowers. Most credit Unions have opened up membership to just about anyone, so even if you need to join, you should be able to. Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com
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