Posted on: 29th Aug, 2010 06:29 pm
I have 5 percent loan 14 years to pay, what percent is worth refinancing for? to do another 15 year loan, is it worth it for a 3.5 with one pont to get that loan>
hi guest,
you can refinance your existing mortgage to a 15 year loan for an interest rate of 3.5%. paying a point is a good option as it helps in lowering the interest rates. if you have the required credit scores as asked by the lender and if there is equity in your property, then it would be a good option to refinance the loan.
thanks
you can refinance your existing mortgage to a 15 year loan for an interest rate of 3.5%. paying a point is a good option as it helps in lowering the interest rates. if you have the required credit scores as asked by the lender and if there is equity in your property, then it would be a good option to refinance the loan.
thanks