Current situation is as follows:
Mortgage balance is just below 220k. Zillow (haven’t had an appraisal) estimates its value at 340k. Currently paying below $1.3k per month. Interest rate is 3.625.
Student loan balance is right at 120k which is made up of 8 loans, all paid to Great Lakes. Two of the eight are 7% (40-45k combined) while the others are between 5-7%. I’ve been paying $1.650 per month on that for almost three years. About 900 of that is interest.
My credit score is over 800. I don’t have any other debt Seeking advice on thinking about all possibilities to get rid of the student loan. Is it possible to get a 100% LTV mortgage (which will possibly rid the entire SL) or Should I cash out refinance the 80% and refi the student loan balance? Is there another option I should consider? I don’t have any plans to move in the near future.
Thanks in advance.
Submitted December 02, 2019 at 07:50PM by roduuuu https://ift.tt/2YbeIrR
