Replacing the variable rate on a HELOC with a fixed rate mortgage at today's historically low rates is a prudent decision. There are many factors to consider including your credit and financial profile, the # of units in your Brownstone, are there rental units, the amount of equity you have,the expected loan amount and what your near and long term goals are for the property and yourself. Just to name a few. I have extensive experience assisting homeowners with these decisions throughout NYC and the suburbs. For more information or for assistance, I can be reached directly at 917.699.0183. Follow me on twitter @mdenniston247.
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Michael Denniston l Cell: (917) 699-0183
Residential Home Funding, Corp.
Licensed Mortgage Loan Originator l Sales Manager
6901 Jericho Turnpike Ste. 219 | Syosset, NY 11791
Main: (516) 605-1733 | Fax: (888) 881-2557
NMLS # 24076 | Company NMLS # 34973
Hopefully, you still have adequate equity to re fi. Once that's determined you need to look at things like interest rates, term, payments, initial costs.