home loan savings bank
Should I refinance my home through my current loan company?
Is it generally cheaper to refinance a home through your current loan company? How much savings would one estimate? I have a first mortgage for about $50,000 at 6.75% and a second for about $9200 at 8.75%. What’s the process here…do I just go to the bank and tell them I want to refinance? Any pitfalls so that I’m not taken too advantage of?? Any help appreciated. Thanks folks!!!
They may make it smoother and cheaper. Lower fees and less paperwork. But I bet you should visit another bank also and your aim should combine the two loans and try to get it down to about 5% or less for the combined loan.
