Mortgage and equity loans

Discussion in 'Credit Talk' started by MikeG, May 2, 2001.

  1. MikeG

    MikeG Well-Known Member

    I recently bought a house at the end of last year. Since that time, the rates have drop I believe a point and a half. Obviously, I am looking to refinance at some point. I was planning on waiting until after the six month mark to build some history with the payment. Any advice on refinancing. I am also fortunate enough to have over 50K in equity. I am trying to decide if it is best to keep the two loans separate or just refinance for the whole price. Any opinions?

    Mike G.
  2. CF

    CF Active Member

    If you qualified for a conforming loan you should have no trouble refinancing. Freddie Mac has no seasoning requirements now. Talk to a broker and see what they can do.


    If you have trouble finding a broker post your email and I will try to refer someone to you.
  3. AnnMarie

    AnnMarie Well-Known Member

    ATT: CF

    Okay..I'm butting in here but I've been looking for a broker...can you help?

  4. MikeG

    MikeG Well-Known Member

    I am currently in a FHA loan. I bought down 2%. I am sure you realize that FHA loans start out higher than conventional loans. Any suggestion on refinancing for the total amount or keeping the equity loan separate.

    You can email me at

    Mike G.

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