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moneymaker.
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August 5, 2011 at 6:41 AM #18996August 5, 2011 at 7:32 AM #715137
AK
ParticipantMy two cents …
FHA/VA loans can be refinanced at low cost (so-called “streamline” refi) and rates are lower than conventional right now because GNMAs get an explicit government guarantee. At today’s rates a refi makes sense to me … just barely.
I’m not sure if a conventional refi makes sense this week. I think the par rate is around 4.25% today and given the higher cost of a conventional refi you may not get much of a benefit. Maybe next week!
August 5, 2011 at 7:32 AM #715228ParticipantMy two cents …
FHA/VA loans can be refinanced at low cost (so-called “streamline” refi) and rates are lower than conventional right now because GNMAs get an explicit government guarantee. At today’s rates a refi makes sense to me … just barely.
I’m not sure if a conventional refi makes sense this week. I think the par rate is around 4.25% today and given the higher cost of a conventional refi you may not get much of a benefit. Maybe next week!
August 5, 2011 at 7:32 AM #715830ParticipantMy two cents …
FHA/VA loans can be refinanced at low cost (so-called “streamline” refi) and rates are lower than conventional right now because GNMAs get an explicit government guarantee. At today’s rates a refi makes sense to me … just barely.
I’m not sure if a conventional refi makes sense this week. I think the par rate is around 4.25% today and given the higher cost of a conventional refi you may not get much of a benefit. Maybe next week!
August 5, 2011 at 7:32 AM #715982ParticipantMy two cents …
FHA/VA loans can be refinanced at low cost (so-called “streamline” refi) and rates are lower than conventional right now because GNMAs get an explicit government guarantee. At today’s rates a refi makes sense to me … just barely.
I’m not sure if a conventional refi makes sense this week. I think the par rate is around 4.25% today and given the higher cost of a conventional refi you may not get much of a benefit. Maybe next week!
August 5, 2011 at 7:32 AM #716344ParticipantMy two cents …
FHA/VA loans can be refinanced at low cost (so-called “streamline” refi) and rates are lower than conventional right now because GNMAs get an explicit government guarantee. At today’s rates a refi makes sense to me … just barely.
I’m not sure if a conventional refi makes sense this week. I think the par rate is around 4.25% today and given the higher cost of a conventional refi you may not get much of a benefit. Maybe next week!
August 5, 2011 at 7:39 AM #715142
svelteParticipantNot sure if this still holds true, but the rule of thumb used to be refinance if you can drop your interest rate by a full percentage point.
That assumes you plan on staying in your house awhile….how long you need to stay until you break even is straightforward math.
August 5, 2011 at 7:39 AM #715233svelteParticipantNot sure if this still holds true, but the rule of thumb used to be refinance if you can drop your interest rate by a full percentage point.
That assumes you plan on staying in your house awhile….how long you need to stay until you break even is straightforward math.
August 5, 2011 at 7:39 AM #715835svelteParticipantNot sure if this still holds true, but the rule of thumb used to be refinance if you can drop your interest rate by a full percentage point.
That assumes you plan on staying in your house awhile….how long you need to stay until you break even is straightforward math.
August 5, 2011 at 7:39 AM #715987svelteParticipantNot sure if this still holds true, but the rule of thumb used to be refinance if you can drop your interest rate by a full percentage point.
That assumes you plan on staying in your house awhile….how long you need to stay until you break even is straightforward math.
August 5, 2011 at 7:39 AM #716349svelteParticipantNot sure if this still holds true, but the rule of thumb used to be refinance if you can drop your interest rate by a full percentage point.
That assumes you plan on staying in your house awhile….how long you need to stay until you break even is straightforward math.
August 5, 2011 at 8:17 AM #715147all
ParticipantIf your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.
August 5, 2011 at 8:17 AM #715238ParticipantIf your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.
August 5, 2011 at 8:17 AM #715839ParticipantIf your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.
August 5, 2011 at 8:17 AM #715992ParticipantIf your credit is good enough you should be able to get a lower rate with no out of pocket expense. The lender will give you higher rate and give you a credit that will cancel the closing cost.
I refinanced twice in less than a year after purchasing the house and lowered the rate from 5.25% to 4.75% to 4.25%. The second time I worked with Sheldon and he got me a better deal than what aimloan.com had at the moment.
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