javier a


I would like to borrow money from my home (175k balance due and 800k value) to pay off another home of mine.

San Jose, CA

5 Responses to “Should i refinance my home or process a home equity loan to borrow money?”

1. kate on May 28th, 2009 12:21 pm

   Which way will cost less when you add up all the costs ?

   That should give you your answer .

   >

2. crazimoore on May 30th, 2009 4:16 pm

   Do a home equity line of credit( with a reputable company). You will have access to a great deal of money, yet you only have to make payments on the amount taken from your line of credit. Interest rates can fluctuate with this, however you can generally lock in rates up to three times.

3. Bill P on June 2nd, 2009 10:51 am

   Listen to this show tomorrow and call in. He is great and he will treat you right>

4. Chris on June 5th, 2009 4:14 pm

   I recomend you meet with a broker and ask about a refi or a second mortgage, then go to the bank and ask about the HELOC.

   If your current first mortgage is a good rate, you may not want to mess with it. However you can get a 30-yr fixed rate second mortgage easily. Or, for accellerated payments, take a look at the 15-yr fixed rates instead of the 30-yr.

5. FranklinFirst on June 8th, 2009 7:23 pm

   Hey Javier i would love to give a an answer on that question, but i don’t know the whole story. In some cases a heloc is the best way to go and in other situations restructuring your mortgage through a refinance is the best course of action to take. I am A senior mortgage consultant and banker,i would love to hear about your specific situation and organize a financial plan that fits your personal goals. E-Mail me at tell me a little detail about the deal and ill send you a few different options to chose from

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