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should I refiance my home?

I purchased my home in  2010? My current rate  5.375 and the new rate would  3.875 both rates would be fixed.
  • September 26 2011 - Woodbridge
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Answers (3)

What is the loan balance?
  • September 27 2011
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Hi Chevyanllcs:
An even easier calculation that makes more sense is how long to recover your costs vs savings. If you will be in your home longer than the time it takes to pay yourself back the costs of refinancing, then yes, you should do it!
Prices in Woodbridge and Prince William county in general seem to be rising slightly too, your appraisal should be ok!

Best wishes, Jim
  • September 27 2011
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Yes. Its really simple. Is the balance of your new loan going to be lower in the time that you expect to exit the home vs the balance of the old loan. If the answer is yes than it's a no brainer. If it's no or close than you look at recovery time and costs etc....and further analysis.......


  • September 26 2011
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