it all depends what you really want and wht you are going to do-
If you want a new house in under 5 years- a REFI ussually won't make $ sense.
You have cash out re-fi's and you have HELOC's - 2 very different products each with a different purposes.
Cash out- they write you a check at closing and add it to the balance of the mortgage.
HELOC- is a line of credit and unless it's more than 50K will be calculated as part of your revolving debt in scoring.
1. Set out what you want to do and when
2. put the numbers out there so we cann help crunch them.
Message Edited by Timothy on
08-11-2008 10:10 PM