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Non-Cattle Specific Topics
Every Thing Else Board
Lending question
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<blockquote data-quote="DLD" data-source="post: 1413319" data-attributes="member: 19707"><p>Depends most on the terms of your current real estate loan. If it's a fixed rate, you'd probably be ahead to keep it, because chances are interest will be higher on your next one. Beyond that, I'd say it depends on how you feel about your current lender - if you think you'll probably want to deal with them on your next purchase, let it ride. Already having a loan in good standing should give you a shot at their best possible deal. If you're sure you want to go somewhere else, pay it off and save the interest you'd be paying in the interim. If you're going to shop lenders, like Bright Raven said, debt to asset ratio is what matters to them, so cash vs equity is pretty much of a wash.</p></blockquote><p></p>
[QUOTE="DLD, post: 1413319, member: 19707"] Depends most on the terms of your current real estate loan. If it's a fixed rate, you'd probably be ahead to keep it, because chances are interest will be higher on your next one. Beyond that, I'd say it depends on how you feel about your current lender - if you think you'll probably want to deal with them on your next purchase, let it ride. Already having a loan in good standing should give you a shot at their best possible deal. If you're sure you want to go somewhere else, pay it off and save the interest you'd be paying in the interim. If you're going to shop lenders, like Bright Raven said, debt to asset ratio is what matters to them, so cash vs equity is pretty much of a wash. [/QUOTE]
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