My husband and I want to take about $15,000 to pay off debt and renovate our home, which we just purchased last July. Our current interest rate is 7.25% and we owe about 65k on our home that appraised at 100k. The problem is that our credit is not great and not well established. Which would be the best option for us, home equity loan or refinance?
Posts Tagged ‘Would’
Which Would Be Better For Us, Taking Out A Home Equity Loan Or Refinancing?
Saturday, May 16th, 2009What Would Be Better, A Home Equity Loan Or Refinance At Lower Rate To Add On To My Home?
Wednesday, May 6th, 2009I’m wanting to add on to my home but I’ve never used a home equity loan. I have used the refinance method where you borrow a little extra to add on. What would be the best now, with the way the economy is and the interest rates unstable?
