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coep1234cl · Joined: 16 Jun 2009 Posts: 1 1.37 Dollars($)

I owe 255k on my condo in oakland. The loan to value ratio is about 105 so I qualify fro HASP.

My broker is giving me 5.5% for 30 yr fixed, 3k closing cost. Talked to Bank of America & wells fargo, there rates are higher.

Should I wait or re-fi now? I want to own this place for at least 5-10 years, may be more...

Susie

Posted: Tue Jun 16, 2009 3:07 pm Post subject:

sounds pretty decent to me.

eric1 · Posted: Tue Jun 16, 2009 5:58 pm Post subject:

Yes that is a good rate today.

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

that is definitely a fair rate and closing cost estimate

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

coep1234cl

Welcoem to forum

The rates looks good for the current market condition

You need to look at the long terms gain or losses if you go with this laon or stay with the existign loan.

As you saif you are goign to stay there for 5 - 10 years, you need to calculte your total cost if you do nto refinance after 10 years and do the same with teh new loan adding the closign cost to it

You will see how much you save or loose

Good luck and feel free to ask

p.s:by the way just ignore the people who are postign to help with yoru mortgage

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Compare Mortgage Quotes

Is 5.5% good rate for 30 yr fixed, 3k closing cost for 255k loan