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refinancing question.

F

Fiveohhh

Diamond Member
Just curious as to what exactly it is. I bought my house last fall and got 5 3/8% and I want to try and get an equity loan. I was wondering what are the costs involved in refinancing.
THanks
 
Originally posted by: Fiveohhh
Just curious as to what exactly it is. I bought my house last fall and got 5 3/8% and I want to try and get an equity loan. I was wondering what are the costs involved in refinancing.
THanks
Click to expand...

it really depends on the lender and the terms you get. refinancing and equity loan are two different things, though..

refinance.. you have your attorney fees and a title fee and depending on how much you're financing, maybe mortgage insurance, and pre-pay of escrow and interest and probably some stuff I'm forgetting.. but you can finance all that in.. refinanced my house the other week, wrote a check for 53.xx at closing. was kind of fun, knocked 5 years off the mortgage and 100 bucks off the payment.

equity loan.. again, is going to depend on where you get it.. fewer fees though. not likely to have all that much equity if you just bought it last fall though..

 
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