Posted on: 28th Aug, 2010 10:02 am
I have a 40 year mortgage with a 6.5 interest. Iowe approximately 307, 000. Is this the time to refiance now. I only plan to stay in the house for two more years
hi guest,
as you're planning to stay in the property for the next 2 years only, it won't be a good option to refinance the loan. if you refinance the loan, you'll have to pay closing costs. as you're staying in the property for the next 2 years, you won't be able to offset the closing costs and thus, it won't be worth refinancing the loan.
thanks
as you're planning to stay in the property for the next 2 years only, it won't be a good option to refinance the loan. if you refinance the loan, you'll have to pay closing costs. as you're staying in the property for the next 2 years, you won't be able to offset the closing costs and thus, it won't be worth refinancing the loan.
thanks