- Find a Real Estate Professional
- Realtors®
- Mortgage Lenders
- Home Improvement Pros
- Other Real Estate Services
- Review an Agent, Lender or Pro
- Marketing on Zillow
- Real Estate Agent Advertising
- Join the Professional Directory
- Popular
- Real Estate Market Reports
- More
Answers (2)
- Clay Branch, "Georgia Loans"
- Contributions:7836
If you refinanced on a 10 Yr at 4.25% ( $3076/mo P & I ) and paid $3K in closing costs, you would save aprx $38K. If you had more equity a 10 Yr rate is still available at 3.5% but I do not see that option on Refi Plus or Freddie's pgm, you would probably get the 15 Yr rate on a 10 Yr Am around 4.25%. Are you sure on the value? In order to payoff in 10 Years from this point on your existing loan, pay an additional $413/month in additional principal, $3330 total.
- Mark Gelbman, "Mark Gelbman"
- Contributions:222
lcksmith,
There are mortgage calculators everywhere on the web. Here's one: http://www.mortgagecalculator.org/. Why have you been waiting so long to refinance? Rates hit their low in early November and have gone up from there. You are looking at a 10 year fixed at about 4.25%. A 7 or 10 year arm will not be any lower. Also, I am assuming that you know whether your current loan is a fannie or freddie. Fees and rates will be based on other factors also including loan-to-value, credit scores, the presence of a 2nd mortgage, type of home, etc. I would like to help.
There are mortgage calculators everywhere on the web. Here's one: http://www.mortgagecalculator.org/. Why have you been waiting so long to refinance? Rates hit their low in early November and have gone up from there. You are looking at a 10 year fixed at about 4.25%. A 7 or 10 year arm will not be any lower. Also, I am assuming that you know whether your current loan is a fannie or freddie. Fees and rates will be based on other factors also including loan-to-value, credit scores, the presence of a 2nd mortgage, type of home, etc. I would like to help.
Looking for a formula so that i can caculate a new mortgage payment ?
Stating a discriminatory preference in an advertisement for housing is illegal. If you think this content is discriminatory or otherwise inappropriate and feel it should be removed from Zillow, please let us know by completing the information above.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.