I am interested in taking equity out of my home to pay off some student loans. What's the best option for me?
I have a $68.000 debt mortgage at 4.25% APR, the property value is $225.000. I have a $38.000.00 student loan at 9%. I am 67 years old and working. Is an equity loan or refinance is the best deal?
Asked by roger taylor
Asked by Charles Jones
Answered by Mark Haynie
Mortgage Professional in Los Angeles, CA
Based on the 2.5% rate of your HELOC, it appears to be PRIME -.75%, which is a pr...