Is it worth refinancing if interest rates are down 1 percent?
November 24th, 2009 | by James |
Samantha Marie
New 30 year mortgage last year, interest rates are 1 percent lower, which reduces my monthly payment. But, there are closing costs - again. We would re-coop the closing costs after 2 years, but what do we save over the term of the loan?
Wedding Venues Sydney
New 30 year mortgage last year, interest rates are 1 percent lower, which reduces my monthly payment. But, there are closing costs - again. We would re-coop the closing costs after 2 years, but what do we save over the term of the loan?
Wedding Venues Sydney
2 Responses to “Is it worth refinancing if interest rates are down 1 percent?”
By Natural Acne Scar Treatment on Nov 27, 2009 | Reply
Online Forex Trading Systems
No it needs to be at least two points unless you can find a lender willing to waive the closing costs.
Call your current lender and ask.
By Professional Wine Opener on Nov 29, 2009 | Reply
Retro Cycling Jerseys
Yes, if you can recoup the closing costs after 2 years, that would be worth it. You will save thousands over the term of the loan. Here is a great calculator that you can use to figure out savings a number of different ways by comparing both loans