[quote=teaboy]come now, flu. You can’t possibly be rationalizing to yourself that it’s not you incurring the closing costs when you’re just increasing your total debt by $5k…
As we’re doing show and tell, I’m locking a refi at $405k, 15-year fixed @ 3.125% with a lender credit of $11k, meaning total net closing cost of -$7k.
FYI #1: I have 30% equity and 740+ credit score.
FYI #2: I’ve done a lot of shopping for rates and have never found a better offer than I can view instantly online at absolutemortgageco.com.
(disclaimer: I am in no way associated with absolutemortgageco.com, but they just seem to be the price champion for my scenario, plus they have their specific rates & lender credit available online. Their nearest competitor is amerisave.com, who are a bit more expensive. If anyone knows of another comparable online direct lender PLEASE LET ME KNOW!)
tb[/quote]
Actually, I guess I just don’t get it.
It seems like the difference here is you’re taking cash out up front, and paying more back (over the life of the loan) with a higher rate, versus if you were to take less cash or no cash up front and pay less in the total loan over 15 years…
