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re: 15yr Mortgage... Where to begin?
Posted on 6/24/13 at 1:02 pm to Zephyrius
Posted on 6/24/13 at 1:02 pm to Zephyrius
quote:
Balance is 156k... value I would guess is 270k - 290k(comparable house same neighborhood went 305k after Katrina). I'm at 7.5% currently(I know... high).
Forget what I said - you should definitely refi - even a modest drop to 5% will pay back your closing costs in less then 30 months - DON'T take money out and you'll avoid PMI.
No reason for you not to be in a 15-year, and, if you get paid biweekly, I would pay bi-weekly - that has taken the drama out of payday for me.
This post was edited on 6/24/13 at 1:03 pm
2
Posted on 6/24/13 at 1:22 pm to Ace Midnight
quote:
current rate this morning on a 15yr refinance is 3.25%. with your current rate being so high you will probally save money with 15yr refinance
Yeah I would hope so...
quote:
No reason for you not to be in a 15-year, and, if you get paid biweekly, I would pay bi-weekly - that has taken the drama out of payday for me.
That's the biggest wrench for my refi... I'm 1099 independent contractor. I have a good income history(taxes) the last 3 or 4yrs but 2012 I'm negative but average is solid for the loan amount and comparable with what I've earned so far in 2013. Wifey has consistent income history though.
In any case... should I go to "my" bank first, local broker, online?
Posted on 6/25/13 at 7:19 am to Ace Midnight
quote:
if you get paid biweekly, I would pay bi-weekly
same here
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