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refinance or not

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gator Guest	Posted: Tue Jan 17, 2012 10:02 am    Post subject: refinance or not Like 0 Dislike 0 should I refinance at 4.125% from a 5.875% loan, if I can save 112.00 a month on at no closing, no processing and no appraisal fees at all. Only 4 years into a 30 year mortgage? Please I need to know today....gator _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Tue Jan 17, 2012 11:32 am    Post subject: Like 0 Dislike 0 If you are not paying points, or other fees, and you are only 4 yr into the mortgage, saving over $100 a month is a good option. Not only are you saving every month in your mortgage payments, but you will save thousands over the life of the loan in interest savings. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
adonis Joined: 22 Oct 2005 Posts: 10562 Location: ALASKA 1089.18 Dollars($)	Posted: Tue Jan 17, 2012 10:40 pm    Post subject: Like 0 Dislike 0 Welcome gator, I agree with Chris. It will be a good option for you to refinance your mortgage as you won't be liable for paying any closing, processing and appraisal fees. However, before signing on the dotted lines, you should read through the loan agreement carefully so that you don't miss out on the important clauses which might come out as a surprise later on. _________________ Procrastination is the enemy of your financial success
gator Guest	Posted: Wed Jan 18, 2012 8:30 am    Post subject: refinance or not Like 0 Dislike 0 Thanks Chris and Adonis for responding. I had thought it would be a great move, but just wanted a second opinion when making a financial decision this early into my mortgage.

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