Hi Adonis,
I just want to make sure I understand you! You are telling me that if I've been in my present loan since 08/09 I can refinance into a lower interest rate without incurring any penalty because I received the Tax Credit when I purchased my home a year ago? I'm not going to get fined or penalized if I do refinance after receiving the tax credit.
I've been in the loan since 08/09 and my rate is 5.75%. I've been offered a 4.25% 30 year fixed, which will lower my payment by $158.00 a month, so I want to make sure I'm not going to incur a penalty if I received the Tax Credit when I purchased my home over a year ago.
I just want to make sure I understand you! You are telling me that if I've been in my present loan since 08/09 I can refinance into a lower interest rate without incurring any penalty because I received the Tax Credit when I purchased my home a year ago? I'm not going to get fined or penalized if I do refinance after receiving the tax credit.
I've been in the loan since 08/09 and my rate is 5.75%. I've been offered a 4.25% 30 year fixed, which will lower my payment by $158.00 a month, so I want to make sure I'm not going to incur a penalty if I received the Tax Credit when I purchased my home over a year ago.
In my opinion, it will be a better option to contact a tax adviser and take his suggestions in this matter.