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aciphex
Joined: 28 Sep 2007
Posts: 1
Location: IN
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| Posted: Fri Sep 28, 2007 1:10 pm Post subject: Refi now or wait until Sept 08? |
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I am a borrower that currenly has a 5/1 set to adjust in Oct 08. The rate is 4.6. Do you think I would be better off waiting to closer to Sept to refi or completing it now. I can do fixed, adj, 30yr 15yr. DTI is about 16%
State: IN
Loan amount: $ 250000
Property Type: Single-Family
Other Documentation:
Full doc
FICO Score: 780
LTV Ratio: % 59
Occupancy: Owner-Occupied
Loan Purpose: Refinance No cash out
Thanks |
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jrhartman
Joined: 01 Apr 2007
Posts: 107
Location: Michigan
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| Posted: Fri Sep 28, 2007 3:03 pm Post subject: |
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| I'd get into a fixed in rate now if it were me. If you are willing to take the risk that rates might be substantially higher when your rate is set to adjust then ride it out. |
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biggdaddy
Joined: 11 Oct 2007
Posts: 17
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| Posted: Thu Oct 11, 2007 5:56 am Post subject: |
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| Refi in January. Rates are going to be cut again from now until then. Then get yourself a 30 year fixed in the low 6s% |
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