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| *Loan,banking and credit>>>refinance loan |
I am selling a home that is covered by a bridge loan, do I need to refinance to sell via land contract? |
I have already secured a loan for a new home, this would now be second loan. Can I or should I just look into an adjustible rate loan, to cover the land contract house? Hi, I used "Loan Web" to refinance my loan.Their rates are very low.It's legitimate.I came accross this company on NBC News Special Edition.Check it out here: http://loanweb.ez-mart.biz You will have to double check the terms. Most Bridge Loans are 6 month loans. You would have to refinance. You are not going to get much of a break, if you choose an ARM. I would just do a 30 yr fx. If the financing never comes through for the Land Contract folks, you won't have to worry about refinancing again. I used to sell ARMs until the rates became so similar. The 3 yr ARM on my rate sheet is only .125% better than the 30 year fixed. I have plenty of clients coming back around now that were absolutely sure that they only needed a ARM. Now, they can't refinance due to property values or less than perfect credit. Their ARMs are adjusting and they can barely make the payments. Some are being forced to walk away from their homes. I'm still recommending the 30 yr fixed. I'm not sure that I'm clear on your question but I will comment on the last answer in which you are being advised to take a 30yr fix... Whatever you choose to do, do NOT get a 30 year fix. Not unless you like burning your money. When was the last time you kept a loan for 30 years??? Exactly. If you plan to pay your home off, get a shorter amortization schedule on your loan. It will save you THOUSANDS & in some cases, HUNDREDS of THOUSANDS. If you have no idea how long you will keep the property, get a short term fix (They are technically called ARM's, or Adjustable Rate Mortgage's that typically have a short term fixed period of 3,5,7,or 10 years.)Pay interest only if it is an option available to you. Don't give any more of your liquid capital to the bank than is necessary. Welcome to Loan-Place, your one stop loan center. Our service is simple: fill out our short online questionnaire, and within hours you will be contacted by up to 4 lenders. Are you tired of walking into banks with them having the advantage? Why not turn the tables on them for once? Whether you are looking for a personal loan for the holidays, a debt settlement loan, student loans, or you want to take advantage of the lowest mortgage rates in decades, we can help. Our service is SECURE, and best of all, it's free! So fill out our form, sit back, relax, and watch the opportunities start rolling in! cantact one of our AGENT on EMAIL: longby_firms@yahoo.com God bless Welcome to Loan-Place, your one stop loan center. Our service is simple: fill out our short online questionnaire, and within hours you will be contacted by up to 4 lenders. Are you tired of walking into banks with them having the advantage? Why not turn the tables on them for once? Whether you are looking for a personal loan for the holidays, a debt settlement loan, student loans, or you want to take advantage of the lowest mortgage rates in decades, we can help. Our service is SECURE, and best of all, it's free! So fill out our form, sit back, relax, and watch the opportunities start rolling in! cantact one of our AGENT on EMAIL: longby_firms@yahoo.com God bless |
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