home line rates
- Thread starter VIPR PWR
- Start date
Why Home equity line and pay 10%-13% if your lucky? Just refinance and cash out and pay 5.5%-6%. I'm in the process right now of wrapping my 1st and home equity line, and my monthly nut will go down by $600 per month. Good thing my wife is in the mortgage business.
my equity line is like 4 percent right now should be able to do real well on both. my mortgage rate is like 5.1 for 30 years fixing to try and drop it to 15 yrs.
I already have a line at 7.05% variable with fixed lock in capabilities of 7.21%... I'm looking for better rates (fixed) to get the lowest possible. Need names of companies...whether it be refianancing or a Equity line.
the equity line doesnt have closing costs and my rate on my equity line is 7%LitemUp said:
Northwest Venom
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I would wait about six months because the rates are going to drop
I have been watching them drop and was hoping that the fixed rate would drop below the 7% line or better....I surely don't want to get caught with my pants down and the rates go up......need to be ready for a quick change-----or put it all on credit cards at a very low promo rate to by time.
azpyroguy
Full Access Member
Yea.... use:
Scott Goldsmith
Mortgage Planner
Desert Hills Bank
6970 E. Chauncey Ln #175
Phoenix, AZ 85054
480-212-0071 ext 253 - Office
480-212-0069 - Fax
602-571-2490 - Cell
[email protected]
He got me killer rates, mine caps out at 9%, and with the most recent fed cut, I am sitting at 6.75% for my HELOC.
I have used him 3 times for my mortgage needs, and will keep going back to him... excellent communication, no BSer.
And he is a fellow hot rodder also... =) Loves Viper Trucks, has a quick Camaro in the 11s I think...
He is 50 states licenced.
Scott Goldsmith
Mortgage Planner
Desert Hills Bank
6970 E. Chauncey Ln #175
Phoenix, AZ 85054
480-212-0071 ext 253 - Office
480-212-0069 - Fax
602-571-2490 - Cell
[email protected]
He got me killer rates, mine caps out at 9%, and with the most recent fed cut, I am sitting at 6.75% for my HELOC.
I have used him 3 times for my mortgage needs, and will keep going back to him... excellent communication, no BSer.
And he is a fellow hot rodder also... =) Loves Viper Trucks, has a quick Camaro in the 11s I think...
He is 50 states licenced.
Annu Kumar
Full Access Member
Dam I'm paying 12.5 percent And I owe about 225,000. Thats My second mortgage. And I cant get a Loan because of my Fu**** credit
azpyroguy
Full Access Member
Annu Kumar said:
How bads your credit....the guy I use is pretty good at dancing around credit issues....
Damn ,That rate stinks Annu. Damn fico f'ers are not fair thats for sure....Quickly stated here...build your credit to debt ratio and it will improve your credit rating(FICO) as long as you don't use the available funds....the more credit the lower the debt ratio and makes you look better to the banks by raising the FICO score...just don't use the funds of the credit ----shred cards, etc...it also will give you negotiating power for lower interest rates with the banks....
Annu Kumar
Full Access Member
I have 90 days lates on A 7 figure mortgage, Collections, Ect
azpyroguy
Full Access Member
Annu Kumar said:
Ooof.. A 7 figure mortgage.... umm... with 90 day lates... and collections... I doubt even my contact can help you there.... but you could still try..... and I thought my mortgage balance was high at $325k.... I dont feel so bad now....
Annu Kumar
Full Access Member
I just have to keep Hustling To pay this hefty mortgage 7000.00 a month
azpyroguy
Full Access Member
Annu Kumar said:
Shiiieet.... thats slightly less than I make in a month.....
Annu Kumar
Full Access Member
azpyroguy said:
I'll be honest I didn't know it was going to hit this hard. I was making a Lot of money in 2004 and 2005 and than My income dropped in 2006 and 2007. i knew my mortgage was going to adjust but i didn't know my income was going to drop. But Know I have to boost my income to where it was 4 years ago.
we had a local bank call the other day and offer 4.25 on all our notes for 3 years. i think compass bank here in town wanted 4.75 on a 15 yr note fixed that was last week should drop some more either this week or next. most banks post there interest rates on their websites.
Find a mortgage broker in your area. They will have dozens of mortgage lenders who will bid for your loan..
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