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Is it worth it to refinance if only live in the home 3 years

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jamesallen Joined: 13 Feb 2009 Posts: 1 1.54 Dollars($)	Posted: Fri Feb 13, 2009 10:31 am    Post subject: Is it worth it to refinance if only live in the home 3 years Like 0 Dislike 0 We're a military family. Purchased a new home %177,000 at 6.5%. Was offered a VA streamline plan to refinance at 5%. We don't really know how long we will be in the home. Current orders have us leaving in about 3 years. Is it worth it to change?
kingno1 Joined: 25 Apr 2008 Posts: 61 21.19 Dollars($)	Posted: Fri Feb 13, 2009 11:41 am    Post subject: Like 0 Dislike 0 well, if you are not going into a pre pay clause, new terms, and more closing fee, then 1.5% is a sizable difference for you.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12372 Location: bloomfield, ct 57.76 Dollars($)	Posted: Fri Feb 13, 2009 12:06 pm    Post subject: Like 0 Dislike 0 with a streamline, you will definitely benefit. why not? your costs ought to be low. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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