Posted on: 15th Jan, 2013 12:18 am
would it be worth to refinance my home when i only have 5 years left to pay on it? my current interest rate is 5.62500 and my mortgage payment is $836.00
You need to make a cost-benefit analysis of going into refinancing and not going into refinancing. If the costs of refinancing are more than the benefits, then you should not go for refinancing. Otherwise, you should.
Hi marimain,
I personally don't think that it will be a good idea to refinance the mortgage now that you have only 5 years to pay off the loan. You can pay off the loan as per your present payment plan if you don't have any financial issues and get rid of the mortgage loan in 5 years time.
Thanks
I personally don't think that it will be a good idea to refinance the mortgage now that you have only 5 years to pay off the loan. You can pay off the loan as per your present payment plan if you don't have any financial issues and get rid of the mortgage loan in 5 years time.
Thanks