So I’m currently financing my Owner Occupied home valued at $425,000 by the county. My scheduled balance is $301,000 at 3.51 variable percent. My current balance is $296,000. At this point I’m going to refinance at 2.99% fixed for 3 years.
Y or N: Can I borrow 5k more than what I owe. Reason being is my daughter and I currently live in Australia, but we’re orignally from the U.S. I’d like to pay for a trip for her to see my side of the family and see the U.S. before it’s blowed up by Iran.
True or False: A fixed rate mortgage will shield me from interest rates rising from a recession.
At this point I think a global recession is imminent and I’d like to be financially prepared and be succumbed by something similar in 2008.