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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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would you refi?
We have a FHA loan closed in November we think we could get 1- 1 1/2 points less in interest and go into a conventional loan so we can take out a home equity loan. All fixed rate.
Would you do it?
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Posted 7/1/10 2:50 PM  |
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Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
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Re: would you refi?
I was just talking about this because I noticed our bank is offering a 2% difference on refi- and a friend advised that it depended on how much the closing fees would be and how long you plan on being in the home
ex- we will save $300 a month- closing fees are $2000- so it will take us about 7 months to break even and start realizing the benefit- we will definitely be there longer than 7 months so for us it pays
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| Posted 7/1/10 2:53 PM |
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Jenn627
Laaaaaaaambert!
Member since 5/08 9818 total posts
Name:
Jenn
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Re: would you refi?
We refinanced after 1 yr. We did renovations too - it was worth it for us.
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| Posted 7/1/10 2:55 PM |
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