Posted: 1/2/2017 9:00:41 PM EDT
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Looking to refinance my house with the upcoming split with my wife (thanks, arfcom).
I bought the house fresh out of college with not a lot of credit, so not such a good loan. Time to lean things out, and I have a 750-800 credit score now with nothing but positive history. Any tips on this? |
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Quoted:
Looking to refinance my house with the upcoming split with my wife (thanks, arfcom). I bought the house fresh out of college with not a lot of credit, so not such a good loan. Time to lean things out, and I have a 750-800 credit score now with nothing but positive history. Any tips on this? How much do you owe, how much is the appraised value of the house, and what percentage rate are you currently at? |
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Quoted:
How much are you paying towards it? Are you doing it to get a better rate? If not, would recasting be a better option? I should be able to get a much better rate, >1%. It was originally on a 20 year and I'm 5 years into that. I'd like to refi into a new 30 year and keep paying what I'm paying now or close it it, and just have the extra buffer there in case I need to pay less with new regiment of payments to former wife. |
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Quoted:
I should be able to get a much better rate, >1%. It was originally on a 20 year and I'm 5 years into that. I'd like to refi into a new 30 year and keep paying what I'm paying now or close it it, and just have the extra buffer there in case I need to pay less with new regiment of payments to former wife. Good lord man don't waste the rest of your life on a 30 year. If your rate was that shitty you can probably get a 10 or 15 year for similar payments. A 30 year is going to be a bigger rate. |
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Quoted:
Good lord man don't waste the rest of your life on a 30 year. If your rate was that shitty you can probably get a 10 or 15 year for similar payments. A 30 year is going to be a bigger rate. I'll shop all the options. Main thing is CS/alimony is going to keep me poor for the next 4 and 13 years, I'd like to not have to sweat the payment if something comes up and just pay extra when I can. |