Posted on: 01st Nov, 2010 04:32 pm
i have a 30 year fixed,rate mort. refinanced in 2009 at 5 %. $336,000 balance. should i refinance at 4 % 20 year fixed. i am 69. do not plan to sell house. would like to leave my heirs mortgage free or low.
Hi Guest!
Welcome to forums!
If you have equity in your property, then you can refinance the mortgage at a lower rate for a reduced term of the loan. As you do not plan to sell off the property, you will be able to offset the closing costs in few years time and save money.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you have equity in your property, then you can refinance the mortgage at a lower rate for a reduced term of the loan. As you do not plan to sell off the property, you will be able to offset the closing costs in few years time and save money.
Feel free to ask if you've further queries.
Sussane