Financing in 60304>Question Details

blwegrzyn, Other/Just Looking in Oak Park, IL

Loan Refinance - Best Rate

Asked by blwegrzyn, Oak Park, IL Wed Jan 25, 2012

I currently have a loan in amount of 161,000. I leave in Oak Park, IL. Last time when the appraisal was done the value was estimated to be 150,000 and I had second mortgage so I could not do anything. Currently I am on ARM and my rate is 3.0 which is great, but it can change every year. My plan is to sit on the 3.0 as long as I can, but at the same time I wonder if I could get a better loan now? Basically, i wish i could refinance so my principal does not change with no or little cost and with lowest apr, either for 15 or 30 years? Are there any good options or it is better to continue on the ARM?

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