Posted on: 08th Feb, 2011 06:31 am
have a 30 yr fha $207,060 @ 6.5% eff 11/2005 bal $192,900 and a line of credit $18,600.corrent payment $2005 last appraisal $245k considering fha streamline for 196,374 @ 5%, $1660 closing costs to me,the mortgage broker providing $4k in additional closing costs. fico score 660. a savings of $190 mo with new payment, plan to sell as soon as things stabilize to downsize. in 2-3 years at the most. i really do not want to extend my loan and the amoritization schedules show it would not be cost effective, if i sell in 5/2013 or 5/2014 would a refinance to 5% for 30 years work. i would really like to do a 15 year fha streamline if possible. please help.
Hi Guest,
It won't make much sense to refinance the mortgage now as you won't be staying in the property for a longer period of time. This won't help you in offsetting the closing costs even.
Thanks
It won't make much sense to refinance the mortgage now as you won't be staying in the property for a longer period of time. This won't help you in offsetting the closing costs even.
Thanks
You could refinance, but you would likely want to do a no closing cost option since you will be moving soon.
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You're not helping anyone by replying to a post that was made over 3 months ago.
Actually, Guest...even though that post might not have been beneficial to the original poster, someone who may be a newcomer to the forum could derive a benefit from seeing the discussion for the first time.
It's pretty abundantly clear that Dan didn't garner a great deal of financial reward for his 21 words, so it wasn't a money-seeking effort that he made; nor did he search for glory in posting. Had the latter been the case, you sure burst that bubble quickly.
Occasionally, it pays to revisit an old post because there's always a new person wandering around online who might be edified by someone's response. A far worse situation is the gratuitous posts that say nothing at all; and oftentimes, are merely repetitive of what's been already noted.
Thanks for keeping your eyes open, though; I just don't think Dan was wrong to have commented...despite the age of the original post.
It's pretty abundantly clear that Dan didn't garner a great deal of financial reward for his 21 words, so it wasn't a money-seeking effort that he made; nor did he search for glory in posting. Had the latter been the case, you sure burst that bubble quickly.
Occasionally, it pays to revisit an old post because there's always a new person wandering around online who might be edified by someone's response. A far worse situation is the gratuitous posts that say nothing at all; and oftentimes, are merely repetitive of what's been already noted.
Thanks for keeping your eyes open, though; I just don't think Dan was wrong to have commented...despite the age of the original post.
