The "I Refinanced My Mortgage" Thread

[IMSlacker]

I locked in today. 4.625%, paying 1 point. Anyone else refinancing?

[booster11373]

I was giving it some thought, but we have only been in the house less the 2 years would it be worth it?

[IMSlacker]

I was giving it some thought, but we have only been in the house less the 2 years would it be worth it?

Depends on how long you plan on staying in your house. It should take me about 22 months to re-coup my refinancing costs.

[Foster]

definitely thinking about it,
the house next door to me is for sale too and they dropped the price for a second time.

I'm toying with the idea of buying it, but I need to find out if renting it out will be a problem

[Hottub]

I looked into it a few months back. It didn't make sense. I already went from a 30 to a 20 (only 15 to go and it's mine) To go back to a 30 would be a step backwards. And the savings would be minimal.
Plus my taxes will be going down 16% next year after the revaluation of the previous revaluation.

[Tenbatsuzen]

I've only been in the house for six months and we're only planning to be here 8 years.

I understand it's a few thousand dollars to re-fi. At most, we'd only save about 100/month. So we'd have to be in the house for at least three years before seeing a positive cash flow and be out the money we saved for a rainy day.

So right now, pass.

[KC2OSO]

I would love to but one of the folks involved in this marriage (not me) has a credit score of 6. Things have changed a bit.

[drjoek]

I locked in @ 4.75 with 0 points on a 15 year jumbo loan combining the mortgages on home and the beachouse Continuing to pay what I am doing I am mortgage free in 66 Months. With the refi the beachhouse is all paid for. 66 months I retire to the beach.
Appraisor comes tomorrow.

[IMSlacker]

Finally closing today at 3:00. Took forever, the appraisers, underwriters and title companies are all slammed with all the refinancing going on lately.

[jessicaduh]

i'd love to, and i qualify for a much lower rate, but i can't do the closing costs.

[Kris10]

I can't even sell my house let alone refi

[drjoek]

i'd love to, and i qualify for a much lower rate, but i can't do the closing costs.



You can roll the closing costs into the refi.

[topless_mike]

i will never refi my mortgage.

[drjoek]

i will never refi my mortgage.



Why not?

[topless_mike]

my rate is 4.37 for 30 years.
my mortgage is $574 a month.
That was with 2.5 points and no closing costs.

[IMSlacker]

my rate is 4.37 for 30 years.
my mortgage is $574 a month.

Oooh. Good reason.

[drjoek]

my rate is 4.37 for 30 years.
my mortgage is $574 a month.
That was with 2.5 points and no closing costs.



Good rate

[ANC]

My mortgage app for the new house is processing... "Lock In" time hasn't arrived yet...

[jessicaduh]

Finally closing today at 3:00. Took forever, the appraisers, underwriters and title companies are all slammed with all the refinancing going on lately.

congratulations, by the way.

[TripleSkeet]

Try as I might I cant refi my mortgage.

The reason being my debt to income ratio is too high. That blows because Im self-employed and obviously last year was alot tougher on everyone then 2007. My 2007 rate was fine. Not to mention my credit rating is somewhere near 800.

It sucks. I really wanted to lower my interest rate from 6.37%

[~Katja~]

my rate is 4.37 for 30 years.
my mortgage is $574 a month.
That was with 2.5 points and no closing costs.

tell me that does not include property taxes and all???!!! I need to move otherwise.

[topless_mike]

tell me that does not include property taxes and all???!!! I need to move otherwise.

that does not include taxes...
i dont trust the bank to pay my taxes...

[IMSlacker]

congratulations, by the way.

Thanks! We're all done. I'll be saving $230/month. Also, next week is my daughter's last week of private pre-school. That's another $200/week in my pocket. I'm gonna be rolling in cash!

[topless_mike]

Thanks! We're all done. I'll be saving $230/month. Also, next week is my daughter's last week of private pre-school. That's another $200/week in my pocket. I'm gonna be rolling in cash!

fuck yeah.
my son is finishing up nursery school (if thats what they still call it) at the Y. next year he goes to pre-k in town. that will save me 300 bones a month.

[~Katja~]

fuck yeah.
my son is finishing up nursery school (if thats what they still call it) at the Y. next year he goes to pre-k in town. that will save me 300 bones a month.

I share daycare costs with Lukas' dad... keeping him home after I get laid off will save me over $300 a month...

Sadly it won't make me roll in cash.

[cougarjake13]

i didnt refinance but the house i just bought i got a locked rate at 4.5%

[EliSnow]

We did a refi and went from 6 to 4.75 for 1.25 points. I think we are going to stay in this house for 20 years.

[furie]

I was giving it some thought, but we have only been in the house less the 2 years would it be worth it?

it's not how long you've been in that's important, it's how long you intend to stay in the house. if you're going to be there a while, refinance.

i'm already at 5.5% so it doesn't make sense for me to refinance.


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