Market Conditions in 87008>Question Details

Micahael Law…, Home Buyer in Cedar Crest, NM

What is the average refinance rate in bernalillo county new mexico june 2008?

Asked by Micahael Lawson, Cedar Crest, NM Wed Jun 25, 2008

If i refinaced a house originally purchased for 280K (100K down) march 2007 and currently apparaised at 525K to a 350k mortgage with 175K equity with a credit score of 740, what kind of interest wil I receive? My current income is 160K and no debt..

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2
David Stafford’s answer
Can change daily Michael. Today is about 6.25% with no points. I would be surprised if you could beat what you currently have. If you are looking to pull that much cash out, you may have to look around a bit. It can surely be done if it is owner occupied, but it is not as easy as it used to be, especially if it is an investment property. Contact me with questions anytime and good luck to you!
0 votes Thank Flag Link Wed Jun 25, 2008
Micaheal,

You qualify for the best rates in America from what your saying. Rates are not based on location. I would be more than happy to supply with Good Faith Estimates and tell you to go and shop around tommarow. It really depends on what your looking for. But you sound like you are in great shape! Call me if you want some estimates...You can even take mine around to other banks to see if they can beat me and I wouldn't care!

Brent Bester
Mortgage Professional
614-622-8916
0 votes Thank Flag Link Wed Jun 25, 2008
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