Q&A: want to know about refinancing my mortgage?

by ghwpix

Question by kdube151: want to know about refinancing my mortgage?
Owned a home for over a year now interest rate at 6.125 with a little more than 30,000 in equity in my home, would like to know what the process is for refinancing my loan, how much will it cost and if it will save me money, if anyone has recently gone through a refi please tell me about your experience! THANKS!

Best answer:

Answer by pinksteel10
shouldn’t do it unless rate drops more than a point, so in your case, to around 5%. That hasn’t happened yet.

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