---

2% rule of thumb in refinance

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
jimgilly Community Expert Joined: 28 Jan 2010 Posts: 145 Location: USA 36.21 Dollars($)	Posted: Thu Feb 10, 2011 10:54 pm    Post subject: Like 0 Dislike 0 Mortgage brokers and others in the business that originate loans may or may not be able to give you the correct answer as to whether or not it makes sense to refinance. Remember that they get paid when someone does a refinance with them so there is an incentive built in to their answer. Key factors needed when deciding if it is to your advantage to refinance is how long you expect to keep the loan, upfront costs, your tax bracket if you itemize deductions and equally as important the reason you want to refinance in the first place. Is it to lower your monthly payment, take cash out, etc? Only a qualified mortgage consultant putting your interests first will be able to give you the right answer to this question.
docrab Guest	Posted: Thu May 05, 2011 6:29 pm    Post subject: refi Like 0 Dislike 0 i have a 10yr loan 200k at 4.3% and i year in, i was offered to refi the loan 190k for 10yr at 3.875 at no cost to me should i do it
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Thu May 05, 2011 10:51 pm    Post subject: Like 0 Dislike 0 Welcome docrab, If you're planning to stay in the property for a longer period of time, then it will be a good option to refinance the loan. The rate that is offered to you is quite low. _________________ Procrastination is the enemy of your financial success

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Previous  1, 2, 3, 4, 5

Page 5 of 5

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0