[quote=gzz]”Refinancing one time and thinking you hit the jackpot
probably means you left a lot of money on the table.”
My mortgage is a 3.375% 30-year with no PMI and 0 points.
Can you show me how I left money on the table?[/quote]My rate is 3.5% 30 years with all my closing cost paid for and about $2500 to pay for my property tax and insurance. If rate drops again where I can get 3.375% with about $4000 in credit like I am getting in this deal, I will refi again. A few years ago, I did exactly that 4 times over two years. So beyond getting lower rates, I got about $4k in credit each time I refi. So, I didn’t pay taxes or insurance for over 2 years. This time, I had option for 3.375% with $2000 in credit (should be enough to pay for 3rd party fees but not enough to pay for my property tax and insurance), so I decide to go with the 3.5% and get another $2k in credit. If I went with 3.375% and rates go down 1/8% of a %, if I refi again, I would lose out on the $2k – interest saving I would have saved going with 3.375% instead of 3.5%, which isn’t that big if it happened w/in a few months. That to me, is leaving $ on the table.
