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refinance in VA??

Looking to refinance a 30 year mortgage in order to reduce term while keeping same payment.  My balance is $282,000 and my current payment is $1814 ($233 of which is escrow), with about 26 - 27 years left to pay.  My credit score is the best possible score, but I am not interested unless in refinancing unless the numbers make sense.  By the way, I am in VA.  With a balance of $282k, can I get a 20 year term (with no out of pocket costs) and keep my payment, including escrow, at $1960 or less?

My house was appraised at $400k almost 3 years ago.  Current valuation shouldn't be less than $375, even in this market. 
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August 12 2011 - Roanoke
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Hi Doug! This definitely sounds feasible.  I work for a veteran owned bank and we offer the lowest VA pricing.  Feel free to contact me.
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March 06
I agree, that figure looks doable! Remember, the market is very volatile right now.
Happy to help you get qualified. Jim
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August 12 2011
Doug, that definitely looks feasible and will save you tons of interest by reducing the term.  Feel free to contact me anytime for a free consulation

John
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August 12 2011
Yes, you should get a PITI payment of $1960 on a 20 year, if credit is very good and appraisal at 360K or higher.
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August 12 2011
 
Related Questions
refinance in VA??
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Latest answer by Erica Sinchak
March 06 | 4 answers
  • Asked by DougPolumbo
  • In Refinance
  • August 12 2011
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