Boat Loan Lowest Rates
Current mortgage rates refinance 90/10 with the latest cuts?
My house is worth about $ 210,000 and I first got the loan with $ 140,000 at 5.75% and 7.5% in the second for $ 50,000. I would like to combine them into one single loan and with the latest cuts, can beat the house in a 5.75% to 90% value of loans without paying a Boat load of closing costs? Already some credit card debt, low job figure 6, right, scores credit in 700. Thoughts Before I start my own leg work? Should I wait until I reach 80%, which would be later this year hopefully?
My advice … do nothing! The rate on the second should fall again today because the Fed cut the benchmark interest rate. You could refi the first but with closing costs rolled in, you're not really saving anything unless you have a rate of about 4%, which will not happen. Keep paying the second to reach 80% LTV and then the rates of refinancing to make sense. Because even if you hit the line of 80% in a month, you are required to pay 12-IA months. Do not let someone sell you a loan that will not really benefit you!
Kudlow on Morning Joe Blaming Crisis on Loans to Poor People
