October 3rd, 2009 7:40 AM by Eric Fang
The mortgage rate is the history low again, when you do refi, please plan a little bit for the future.
When my clients have a small loan(<=417k), I will usuallyask how long do they plan to stay the current place?When they do have a plan to upgrade in the future, do they plan to keep the house or rent it out? I will recommenddifferent loan programs when the plans are different.If they plan to upgrade and keep the current house,do they have enough down payment, do they need to doa cash-out instead of a rate & term?
Just think a little bit more will save you some money and timein the future.