Financing in 19124>Question Details

Canesj, Home Owner in 19124

I have a 1st mortgage of 244,000 @ 5.375% and a line of credit of 63,000 @2.99% variable. I have had this mortgage for 8 years, I am looking at a VA

Asked by Canesj, 19124 Wed Dec 7, 2011

The VA loan would be for 350,000. This includes about 20,000 for debt consolidation. The rate would be 5.5%. The closing costs are $34,000. This includes the VA funding fee, 2 discount points, and the usual fees. If I plan to stay in the home, is this advisable?

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Canesji,
Your rate is too high and so are your closing costs. I would check with another lender.
0 votes Thank Flag Link Thu Dec 8, 2011
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