@Big-Surf wrote:
We need to Refi within the next year. Do you think we should do it now or do you think we should wait until I get my scores higher?
My wife and I bought a house near the beach in California, here's the detail of the purchase:
We paid - $835k
Down Payment - $165k
Load Type - 30 Yr Conv Jumbo ARM
Current Interest - 5.875%
We have 1 year reaming on the ARM
Total current mortgage - $670k
Current home value - $770-$750k
Should I try and refinance with a 30 year now at about same Interest rate I have now on the ARM (my payment goes up about $1000 per month) or should I try and get my score up so I can get the Interest rate down...as long as rates don't go up before then!!! Anyone have an idea what rate I could get with a score at 685 in California?Thanks,
Big-Surf
What are the terms of the ARM when it resets?
