Zeev's Turnips Patch-No Politics (ZEEV)

[Train Guy]

Well if it's just a regular, and if your credit is good, and you can do a full doc loan, you should be able to get 5.25% right now. Cash out probably is just a little more. And of course the LTV factors in. With money as cheap as it is, I always go for as much as they'll give me. By the time you figure in a little inflation and then the deduction on your taxes, the effective rate is right now in the 3's or lower. If for every $100 you give me, I only have to give you back $3 or less a year, I'll take all you want to give me.

Depending on your situtation, and current rate, I would do a max cash out refi for 30 yrs. now just to lock in these once in 45 year rates. Then if they go even lower next year, do a rollover refi (rolling the closing costs in), no cash out when they get at least .5% lower. No sense taking a chance of missing getting the current rates. And then if they go lower, don't worry about the closing costs. You'll make then back in the first three years easy.