Posted on: 04th May, 2010 08:33 am
I OWN 152000 ON A TWENTY YEAR LOAN WITH 13 YEARS 2 MONS TO GO WITH A INT OF 5.750 AND A SEC WITH A BAL OF 29000 WITH A INT OF 5.375 I WANT TO REFIN AT 4.250 FOR 15 YEARS CLOSEING COST OF 4500 THIS THIS A GOOD CHOICE
Hi CHALUPALIP,
How long do you plan to stay in the property? If you plan to stay in the property for a longer period of time, i.e. for 8-10 years, then it would be a good option to refinance both the mortgages into one at a lower interest rate. This will help you to offset the closing costs that you pay while refinancing the mortgage.
Thanks
How long do you plan to stay in the property? If you plan to stay in the property for a longer period of time, i.e. for 8-10 years, then it would be a good option to refinance both the mortgages into one at a lower interest rate. This will help you to offset the closing costs that you pay while refinancing the mortgage.
Thanks