I am currently in some debt, in which I need to fix before I go to school.
I have a mortgage at 6.25% that I need to refinance to a lower rate before I go to school. Hopefully at around 5.25%. This way, I can lower my monthly payments so I can still pay for this place with my savings while I am still in school. I am not looking to sell because it's just not the market to do so.
I also need to apply for federal school loans (fafsa) - and doing it as we speak. Don't have any scholarships.
Should I get the federal school loans first before I refinance? Or vice versa. I am not sure what the impact of all these credit checks will have on my debt rating and ability to secure loans/scholarships/etc.
What's the best strategy?