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re: Refinance Opinions

Posted on 7/14/10 at 2:54 pm to
Posted by MikeBRLA
Baton Rouge
Member since Jun 2005
16496 posts
Posted on 7/14/10 at 2:54 pm to
Well without having all the hard numbers we can't give you a full analysis. But based on what you said you'd save $100 a month but it will cost you $3000 to do so. So it will take you (3000/100) 30 months to start making/saving money off of this. As long as you stay in the house 30+ months it would be a good deal.


Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 7/14/10 at 3:00 pm to
quote:

Well without having all the hard numbers we can't give you a full analysis. But based on what you said you'd save $100 a month but it will cost you $3000 to do so. So it will take you (3000/100) 30 months to start making/saving money off of this. As long as you stay in the house 30+ months it would be a good deal.


Ignoring TVM.

However, the approximation is close enough.
Posted by Glock17
Member since Oct 2007
22455 posts
Posted on 7/14/10 at 3:00 pm to
quote:

As long as you stay in the house 30+ months it would be a good deal.




The thing that concerns me is I don't have much equity in my home now, so if I had another 3K I would be cutting it even closer.
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