Would a refinance be better in just my spouse's name or both??

Yes, you'll likely get better pricing with the loan in just your wife's name on a conventional loan. You're just one pricing bracket off, but that can make a big difference. As for the rate, I would agree that sounds high if you received that quote a few weeks ago, but with the recent worsening in rates these last few days, and your FICO and LTV scenario, it's probably not too far off; you could probably still find someone with a sharper pencil on that loan balance, though. Just from what you've described, I would suggest you get a more up to date assessment of your property value before you get too set on the price scenarios; unless your market has been more stable in West Virginia than the rest of the country, you may be looking at a HARP refinance or something with mortgage insurance...if your current loan-to-value is much higher than what your suggesting here, you may find it cheaper to look at an FHA loan with both of you still on the loan, but do that prior to April 9th, if that's the case. Reach out to a local mortgage broker; I can guarantee they can find you a better rate than anybody else with your loan amount. Best of luck!

Hi, first point appraisal from 2008 unfortunately holds no water, adjusting for current market i would say you are underwater and should seek to refi 1st only under Harp 2, you need a 720 fico to go to 90% conventional LPMI, which doesn't look like you have and not sure she qualifies for the loan herself as we don't know your whole credit profile...Good luck

In the conventional mortgage market, your score will likely cause lenders to hit you with, or charge you a pricing adjustment for your score, whereas her score will not. Assuming she qualifies on her own, I'd let her do the loan alone. If you only refinance the first mortgage, then you are looking at a Rate and Term Refi. This is better because there are pricing hits for cash-out refis. However, their pricing hits would be much less than the higher rate you are paying on the HELOC. If it were me, I'd go the complete refi route and payoff both the first and second. The appraisal will tell you what your loan to Value is, but based on the numbers you provided, you should be under 80%. The note rate on a 15 year transaction with her scores and treating as a cash-out should be around 3.375 - 3.50 with no origination or discount points. The APR should be just a tad above that. . ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com