Stephen Said:

I want to refinance my house. Should I add my student loans to it?

We Answered:

Well, here are my 2 cents. I do agree with pretty much all the other people who answered your question.

First of all, you need to find out for sure the value of your home, from 184,000.00 to 209,000.00 in two years seems a lot to me, unless you put a nice down payment when you bought it.

So, find out from a reliable source the true value of your property, and if you can refinace avoid going a 100% if at all possible.

right now the interest rates are still low, so it may be a good Idea for you to refinace into a fixed rate and combine your first and second mortgages. I would not recommend touching your student loans and small balances on your credit card.

Remember lenders are more cautious and guidelines are tighter, so make sure all the information the broker or bank is getting from you is accurate and true.

Go to your bank and broker, and then go to another bank and another broker. Don't let everybody check your credit, when they check your credit ask them to give you your scores, that way you will know what you are dealing with. Do not pay any money in advance. If someone asks you for money in advance, simply decline. Keep asking questions, there are still good people out there that truly care about homeowners.

Good luck!