Refinancing
02-01-2003, 03:38 AM
#2
Carmen,
We are thinking the same thing down here in Y-town. We bought this house five years ago on a 30 yr. loan. Our goal is to cut down the years......We're not getting any younger!
Sam
We are thinking the same thing down here in Y-town. We bought this house five years ago on a 30 yr. loan. Our goal is to cut down the years......We're not getting any younger!
Sam
02-01-2003, 05:35 AM
#3
Thread Starter
Sam/All,
We locked in yesterday at 5.375% with ZERO cost. No points, no closing costs etc. The rate WITH closing costs (and zero points) is 5%. Let me know if you want to know the mortgage broker we used. I'll PM you with the info.
We locked in yesterday at 5.375% with ZERO cost. No points, no closing costs etc. The rate WITH closing costs (and zero points) is 5%. Let me know if you want to know the mortgage broker we used. I'll PM you with the info.
02-01-2003, 10:32 AM
#4
I refinanced last October at 5.875% with no points. This was a record low back then. Missed 5.5% by a couple of hours. The rate was changing many times a day, so it was a guese on when to lock in. After I locked in, the rate went back to over 6% the next day. Any thing under 6% and you plan on being in the house for another couple of years, do it. I refinanced after 15 months of being in my house.
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