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re: Should I refinance?
Posted on 8/21/14 at 4:17 pm to 1860pissed
Posted on 8/21/14 at 4:17 pm to 1860pissed
Why don't you just pay extra each month and keep the loan you have?
1
Posted on 8/21/14 at 4:22 pm to LNCHBOX
I looked at an amortization table and the difference in interest (looking at just principal and interest) between the RD loan and the 15 year loan at 240k is almost 120k. That makes me want to refinance. Paying more each month with the same 4.25% at 30 year doesnt knock off near the same amount of interest as getting a lower rate at 15.
ETA: Im just not sure how PMI plays into all of this. FWIW the house appraised for 246k
ETA: Im just not sure how PMI plays into all of this. FWIW the house appraised for 246k
This post was edited on 8/21/14 at 4:23 pm
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