Time to refinance

Question: I am currently looking to refinance my home to get a lower interest rate. The problem is I will likely be relocating for work soon. I'd like to keep my home so I have thought about renting. Can I refinance now as the primary resident and then rent the home in the next few months? Laura, Tulsa, OK

Answer: I would refinance and take advantage of today's low interest rates.

It's your primary residence for the moment. Your plans could always change. And if you do move for work the refinance should improve the figures on the rental.

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Chris Farrell is the economics editor of Marketplace Money.


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