Question by Pam: Is It Worth It For Me to Refinance My Mortgage?
I currently pay 4.75% on a $ 155k mortgage. It is about $ 830 a month. Since rates have dropped to about 3.9% in my area, is it worth it to refinance?
Answer by Go with the flow
Average national average for a 30 year is 3.88%
For a 15 year (worth considering) is: 3.11%
I can’t imagine rates ever going any lower than this. = personal opinion.
Should I re-finance my mortgage calculator
Don’t get conned by a pushy saleman into an ARM. And don’t do points.
Know better? Leave your own answer in the comments!
depending on your closing costs
probably no. if u are going to stay
in house 7 yrs or more maybe.
closing cost determine choice.
ur mortgage difference is around
60$ month so return on refi is long term.
appraisal may b low also.
not unless u can do so without paying one penny out of pocket
to pay down the mortgage, just make 2x payments a mo
or, 2 payments per payment period, one for the regular amount and the 2nd
just for prinicple