Question by ounlopez: Should I get a fixed rate mortgage if I plan to remodel right away? Hi all, I am planning to buy a house with 5-10% down, but I want to remodel the kitchen and bedroom within the next two years. I expect this will add to the value of the house, making [...]
Question by matrixtinter: How much of a drop in interest rates is needed to make refinancing worth all the closing costs and fees? We are currently at a 6.5% fixed 30year mortgage on 290,000. We are wondering if it is worth it to refinance to a 5.5% fixed 30 year mortgage. We’ve done the calculator [...]
You are borrowing almost what the house is worth (High LTV). Since the days of one hundred percent financing are long gone, this now means you are putting the minimum amount the lender will allow you to put down and have a high LTV.