Who's contemplating a Re Finance?

[runeight]

if I calculated correctly I will save 12K over 30 years

Go 15 year if you can swing it. Fixed..no ARM.

r8

 

[atticdog]

only have 1 year paid so far so I dont think we could swing it
but we started off at 6.25 and have been paying that payment after we got 6 so we will do the same when we get 5.5 so it should cut down some years

 

[ks-waterbug]

Every penny extra to principal will pay that sucker down in a hurry....

Average time it takes to reach 51% of your payment going to principal on a 30 year note?

A) 15 years
B) 18 years
C) 23 years
















































C) 23 years...

 

[ks-waterbug]

IF you have all your info you can see using this link just how each aspect of the mortgage/home loan will effect you....


Mortgage Calculator -- Bankrate.com

 

[runeight]

I think it will go to 4.50% next year.

r8

 

[Wag]

Go 15 year if you can swing it. Fixed..no ARM.

r8

Nope. Keep it 30 but double up on your payments.

--Wag--

 

[EarlyBird]

At the moment no, but did look into it for me. Need to wait and look again!

 

[Lycan]

With record low interest rates now being offered the urge to resist was futile! The wifey and I ran down to the sister-in-laws Mortgage Co and did the refi thing.... Interest rates were at 4.72% yesterday! Woo Hoo I'm told that these are some of the lowest rates seen in over 37 years!

Umm yeah bug, you need to get me her number if she got you that rate!

 

[ks-waterbug]

There just numbers until you sign the papers....
We didn't get a lock yet so who knows where will end up!
But, its still nice dreaming

 

[runeight]

Nope. Keep it 30 but double up on your payments.

--Wag--

15 and double.

r8

 

[Wag]

Always keep it 30. Then double or triple or quadruple your payments.

--Wag--

 

[mjn]

Yes, im at 6.15% Im holding out until its below 4% though,I read it is expected to go to 2.5%

You really think it'll get down below 4%??

 

[runeight]

You really think it'll get down below 4%??

I wish but not likely.

r8

 

[ks-waterbug]

Just saved close to $370 a month... with my Refi

4.82%

 

[runeight]

Just saved close to $370 a month... with my Refi

4.82%

WOW! That is a huge savings.



r8

 

[Lycan]

Just saved close to $370 a month... with my Refi

4.82%

And yest again he asks Bug for her number!

 

[ks-waterbug]

PM sent...

 

[Blazing-Saddle]

I already have a 5.5% FHA mortgage and with only 11 years left, it was not in my best interest to refi. Good luck to all of you that got a good deal....

 

[Wag]

Just saved close to $370 a month... with my Refi

4.82%

Did you have to pay any points to get it that low?

--Wag--

 

[ks-waterbug]

It has been fluctuating from 5.19 to roughly 5.33 on a thirty-year fixed.... I would expect it to dip at least one more time in the very near future. I did pay but can make the difference up in just over a year! Plus, I ditched the PMI portion of my original FHA loan.

For myself it was a win/win situation.