- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Should I refinance?
Posted on 8/21/14 at 7:33 pm to 1860pissed
Posted on 8/21/14 at 7:33 pm to 1860pissed
If you are currently paying 4.25% then a refi is probably not a good move.
If you itemize your tax deductions, you can deduct your mortgage interest, so your real after-tax rate is probably around 3% more or less. And that's near the rate of inflation. You do *not* want to pay money up front to reduce your interest rate below the rate of inflation.
If you itemize your tax deductions, you can deduct your mortgage interest, so your real after-tax rate is probably around 3% more or less. And that's near the rate of inflation. You do *not* want to pay money up front to reduce your interest rate below the rate of inflation.
1
Posted on 8/21/14 at 7:47 pm to foshizzle
I dont have 50k equity into it so PMI would still be there. My PMI with the RD loan is less than $50 a month so even when it goes away, its not a huge decline.
Tiger4ever, how much would you suggest paying?
Thanks foshizzle. That does make sense. I guess its just tempting when you look at saving that much in interest over the life of the loan.
Tiger4ever, how much would you suggest paying?
Thanks foshizzle. That does make sense. I guess its just tempting when you look at saving that much in interest over the life of the loan.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News