Asked by Justin, Michigan • Thu Dec 18, 2008
interest only loan. The 20% loan has a fixed 5-year arm, while the 80% has a fixed 10-year arm. The 80% loan is at 6.5% reate while the 20% has 8% rate. I have been $10k down on the 20% loan. Finally, my 2 questions. #1 Do I have any options to refi? #2 I am thinking about moving out an renting both sides, how does this effect my interest mortage contract or interest rate?
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