Zillow Advice: Refinance - My Florida condo vs. my NY state home with no mortgage remaining. What should I do: http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ Zillow Advice | Zillow Real Estate You are getting the hang ... http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ You are getting the hang of it now, lol. That's still a good deal for that loan size and closing costs at 3.8% on 70K&nbsp;are typical for Florida.&nbsp;&nbsp; Thu, 02 Dec 2010 05:58:00 GMT http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ 2010-12-02T05:58:00Z Thank you for your wonderful ... http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ Thank you for your wonderful responses.Clay I have your phone number in case things go crazy tomorrow as in: the rate goes up , or any unexpected changes. And Dan, yes, I truly do need peace of mind and I do think it is important to have this. &nbsp;This is a great site! Thank you Clay and Dan. Thu, 02 Dec 2010 06:52:00 GMT http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ 2010-12-02T06:52:00Z Unfortunately, there are ... http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ Unfortunately, there are considerable closing costs of $2700. which includes an $800. origination fee,$260. recording fee,$388. county tax stamp, $35. credit report fee, $1000. total title charges,$700.tax reserves,$ 79. tax service fee, $26. flood check fee, !!!!!! Thu, 02 Dec 2010 05:48:00 GMT http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ 2010-12-02T05:48:00Z You should be able to post ... http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ <p>You should be able to post a follow up response&nbsp;by clicking on "answer this question". Since you have the money to pay the balance down to avoid MI and the price adjustment for a condo, I like your plan to take the 15 yr at 4% / .125 discount. I assume there is no origination fee, and only a couple lender fees&nbsp;that total aprx $800-$900??</p> Thu, 02 Dec 2010 05:34:00 GMT http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ 2010-12-02T05:34:00Z If you can refinance going ... http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ If you can refinance going for a fixed rate loan makes the most sense. <br/><br/>I would not place a mortgage on a mortgage free property. It is yours and should not be jeopardized by taking money from it. Now if something happens and you lose your income at least the house is paid for. It can not be lost as long as you pay the taxes.<br/><br/>If you have the cash to pay off more of your condo debt I would consider that strongly. Peace of mind is worth a fair amount. What else can you do with the money that would pay you as well now as you pay (%) on the mortgage??<br/><br/>To answer anything posted here or on your other question just click on the blue "Answer this question" button (at the bottom of your question) and type away. Often it will be noticed and more replies given. There is no need to post a new question each time. Although people may take awhile to reply as they are not online at a given time. Thu, 02 Dec 2010 05:30:00 GMT http://www.zillow.com/advice-thread/My-Florida-condo-vs-my-NY-state-home-with-no-mortgage-remaining-What-should-I-do/376600/ 2010-12-02T05:30:00Z