Refinancing

[randall]

Anybody have someone they could refer me to so i can refi my loan on the wash? thanks

 

[washme1]

I don't know what your situation is but I refinanced my home to pay off the loan on my car wash. The best rate I could get commercially was a little over 5% so I refinanced my home at 3 7/8, no pts. and paid off my 6.8% commercial loan. The 15 year amortization on the refi had a lower payment even after getting an extra $10,000 over my other loan balance and it had a 25 yr amort.

 

[pitzerwm]

I don't recommend putting your home on the line for anything, but it looks like it made sense for you.

 

[Waxman]

These days bankers make you sign personally for everything anyway, so your home is usually lumped in somehow.

You can file a Homestead Protection Act form and protect yourself somewhat, but good luck trying to get a big loan w/out your personal property attached somehow to it unless you have a big downpayment, etc.

 

[Wet Spot]

Check with Wells Fargo. No appraisal and loan fees, rates as low as in the 5's, but depending on term of loan.

Matt