I am required to use my builder’s mortgage company b/c they are giving me incentives but the rates are 0.5% higher than other lendes on both the 1st and 2nd mortgages.
I am wondering if I would be able to refinance both mortgages immediately after I close? What do I need to consider? What questions do I need to ask?
Sale Price: $ 960k
New House in California
Interest Rates for 1st/2nd mortgages: 6.75%/8.675%
Excellent FICO scores – high 700s to low 800s