Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

Good Morning - I was just wondering if I should refinance. The details are

Good Morning - I was just wondering if I should refinance. The details are

Good Morning - I was just wondering if I should refinance. The details are as follows: Currently: 143k left on 30 year loan. 5.25%. And we're paying about 100 dollars over the mortgage against principal. ($1131 is payment, we pay $1250) Proposed: Going to a 15 year at 4.25% - bringing 8k to close and having $1310 payment a month. We'd like to stay in the house until it's paid off - I just hate paying interest :) I also want to know if it would be better to refinance - or just add another 75 bucks a month to the 30 year. I think that would take it down a few more years in duration - but we'd save more on the 15. Just wondering what your thoughts were. Thanks! Elijah B


Anonymous's picture
Anonymous (not verified)
5-05-2011

1 Answers
Votes
Older
Newer


1
By refinancing to $143,000 mortgage at 4.25% you save about $13,700 over 15 years more than you would save if you add another $75 to the present payment, whihc is a payment you already add $100 to.   So, refinance at 4.25% or less.  You may be able to get 4.125% today.

jveenstra | Asked on 2011-09-19

Related Questions

Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Anonymous (not verified)
Image CAPTCHA
Page loaded in 0.142 seconds.