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int. rate

Realgeni

Posted on: 09th Jul, 2009 10:19 am

if i refinance my home for less than 1% decrease in my interest rate (6.875 to 6.2), is it worth the effort in the long run? i plan to be in my home another 10-12 years.

Total Reply : 1

annyb27

Welcoem to the forum

You need to calcuate your loan payment based ont eh new rate and also the closign cost.

Check how much you would pay at the end of 10 years with the current loan and the same with the new rate addign the closign cost

Yoou will know if you save, break even or loose money

good luck and feel free to ask

Realgeni

Posted on: 09th Jul, 2009 12:32 pm

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