refinance and home equity loan

[Elke Mariotti]

If those are the values, 170k vs 135k, your best bet is to try and refinance before rates go any higher.
You don't have enough equity for a cash-out, and you'd get little if anything from a HELOC (Home Equity Line Of Credit).

I suggest you talk to an experienced Loan Officer who will let you know your best options - which depend on the true current value of your property vs. your current mortgage balance, as well as your current credit score; the higher the score, the lower the interest rate.

[Electrician4you]

Originally Posted by paz57

Cant even estimate but Ill try. Roof 8000, Basement 10,000 or under, Kitchen 3000 not doing the whole kitchen. Just guess. My rate is 6% been waiting awhile to bring that down.

I would get some quotes for repairs. Btw you're at 20% equity. I don't think you'll get a lot of money from a HELOC or a refi. I don't think you can go over 80% LTV which is where you are at now.
You're probably going to have to save a bit. If you borrow now you'll just get in more debt which can hurt you later on

[paz57]

Thanks everyone! I am going to try and get lowest rate possible thats for sure. My credit score is 730 -40 havent checked lately. The property values went up in my area so taxes went up and my pmt per month. I really want the lowest house pmt right now, cause I need more cash for repairs if I cant get cash out. I really dont want to pay off this house any sooner for that reason. I would like to move someday too. Thanks for all advice!

[Threestep2]

Have you considered refi charges and PMI if you get below the threshold?

[paz57]

I've considered refi but not pmi never had to do pmi I will avoid that. How much does that run?