Posted on: 06th May, 2013 07:19 am
we bought our house 4 years ago and got a morgage loan from bank for 88,000. we now have 18,000 left. we are thinking of refinancing to get a lower interest rate. right now our rate is just over 5%. i was thinking we should refinance with a 30 year loan and still make the same payment we are now that way more would be going to the prinipal so we could pay our house off faster. my husband thinks we should do 15 years. which is better or should we just leave it alone?
Hi Tab!
Welcome to the forums!
A similar query has been replied to in the given page:
http://www.mortgagefit.com/questions-assistance/about56498.html
Please take a look at it. I hope it will help you.
Sussane
Welcome to the forums!
A similar query has been replied to in the given page:
http://www.mortgagefit.com/questions-assistance/about56498.html
Please take a look at it. I hope it will help you.
Sussane
hi,,
The 30 year fixed rate http://refinancetoolbox.com are coming out at 3.500% carrying an APR of 3.655%. The short term 15 year FRMs can be had for 2.625% yielding an APR of 2.857% today.
see what stands fit according to your situation. :)
The 30 year fixed rate http://refinancetoolbox.com are coming out at 3.500% carrying an APR of 3.655%. The short term 15 year FRMs can be had for 2.625% yielding an APR of 2.857% today.
see what stands fit according to your situation. :)
