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re: Refinance Opinions
Posted on 7/14/10 at 2:54 pm to Glock17
Posted on 7/14/10 at 2:54 pm to Glock17
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 on 7/14/10 at 3:00 pm to MikeBRLA
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 on 7/14/10 at 3:00 pm to MikeBRLA
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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