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Replies (1)
- Eric Smith, "ohiosmitty"
- Contributions:352
Some things to look at:
* Monthly savings
* Closing Costs (with your monthly savings, how long does it take to recoup your closing costs)
* How long you plan to be there (make sure you plan on being there longer than it takes to recoup your closing cost, which is when your true savings begins)
Note:
Cost per $1000 on 30yr 5.75% fixed is $5.84/mo
Cost per $1000 on 30yr 4.50% fixed is $5.07/mo
Just my 2 cents...hope this helps and makes sense!
* Monthly savings
* Closing Costs (with your monthly savings, how long does it take to recoup your closing costs)
* How long you plan to be there (make sure you plan on being there longer than it takes to recoup your closing cost, which is when your true savings begins)
Note:
Cost per $1000 on 30yr 5.75% fixed is $5.84/mo
Cost per $1000 on 30yr 4.50% fixed is $5.07/mo
Just my 2 cents...hope this helps and makes sense!
I a house that I bought in 2006 on a 30 year at 5.75%. Is it a wise idea to refinance if the rates
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