Posted on: 02nd Oct, 2010 10:53 pm
i bought my home coming up on 1 year ago at 5% intrest rate. is it worth looking into getting a >5% rate or not worth the hassel? how much would I or could I save a month at 4.25 or around that?
hi guest,
welcome to mortgagefit ,
it is ok to refinance the current mortgage you have as it is already one year old .you can always use mortgage calculators in order to com to the conclusion that how much you will be saving after refinancing
you can also refer to some of the calculators available on the below mentioned link
http://www.mortgagefit.com/calculators/
feel free to ask any further query if you have
dipa
welcome to mortgagefit ,
it is ok to refinance the current mortgage you have as it is already one year old .you can always use mortgage calculators in order to com to the conclusion that how much you will be saving after refinancing
you can also refer to some of the calculators available on the below mentioned link
http://www.mortgagefit.com/calculators/
feel free to ask any further query if you have
dipa
Guest, my guess is that it would not make sense for you to refinance to achieve a rate that is three quarters of a point less than what you have right now. Unless...you are also converting your loan from an ARM to a Fixed rate.
BTW, it is MORTGAGE and not MORGAGE
[External linking deleted as per forum rules. Thanks.]
BTW, it is MORTGAGE and not MORGAGE
[External linking deleted as per forum rules. Thanks.]
