Mortgage Refinancing...

[VA49er]

Does the 'ol standby of waiting until you can knock off a point from your interest rate still hold water?

[meatpile]

Does the 'ol standby of waiting until you can knock off a point from your interest rate still hold water?

I always thought it was a point and a half.

[VA49er]

I always thought it was a point and a half.

Well, that isn't going to happen for a while. I can just about get it to one point lower but I'll have to pay a point and maybe go 20 years instead of 30. There's got to be a way to figure out how long it would take to recoup the closing costs and if I stay in my house longer then that it would be worth it.

[Freakshow]

There's no "stand by." Some will do it for 1/2%. What are the closing costs? What will you save per month? How long till you recoup your costs and start MAKING money? The key is...if you refinance, you have to stay in that house until you've saved enough to justify.

FYI...I do mortgages. PM me and I'll give you a killer quote...

:jump:

[Redsnapper]

No, PM me, I'll give you a better deal.