Posted on: 14th Mar, 2010 09:01 pm
I am 2 1/2 yrs on a 30 yr mortgage. I pay 6.15%. My principal is $133,600. I can possible refi at 4.75 w no points, but I was looking at just putting down $10000 towards principle and possibly get out of my deferred comp for now and put that towards the house each month, $400. I don't plan on being in the house for the long haul but have no plans on leaving within 5-10 yrs. Which route to go??
as you're not planning to leave the property in the next 5-10 years, then i think it would a good option to refinance the loan. this will help you in lowering your monthly mortgage payments. also, as you would be staying in the property for a longer period of time, you would be able to offset your closing costs.
4.75% with zero points/zero origination fee. Depending on the state, It might be worth it.
