Find an option with no upfront costs, and see how it washes out. Your current mortgage holder should be willing to do a low-doc refi, since they already have most of the documentation. It’ll raise the rate somewhat, but you won’t have any sunk costs to recoup. This is all assuming you have at least 20% equity in the property, by a current evaluation.
“Find an option with no upfront costs, and see how it washes out. Your current mortgage holder should be willing to do a low-doc refi, since they already have most of the documentation. It’ll raise the rate somewhat, but you won’t have any sunk costs to recoup. This is all assuming you have at least 20% equity in the property, by a current evaluation.”
I talked with the current lender. They have my payment history and all docs. The loan agent didn’t seem to be in a hurry to sell a loan, nor negotiate. I told him the costs bothered me and I’d shop around, he seemed to not be concerned.
Conservatively I have $90k equity in the home, probably a bit more. I bought it for $192k four years ago, and have put over $30k in it.
These days, you won't get the best rate unless you are going 60% loan to value or less.