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Message
Has anyone refinanced their interest rates through all of this?
Posted on 4/2/20 at 10:16 am
Posted on 4/2/20 at 10:16 am
I am able to refinance my interest rate on my home from 4.99 to 3.25
This is 30 year, FYI
Just curious about what questions I should be asking and what things I should be avoiding when doing so. First time I refinance.
This is 30 year, FYI
Just curious about what questions I should be asking and what things I should be avoiding when doing so. First time I refinance.
This post was edited on 4/2/20 at 10:56 am
11
Posted on 4/2/20 at 10:18 am to VermilionTiger
No. The 15 year rates are higher than the 30 year rates some days. That's stupid.
This post was edited on 4/2/20 at 10:25 am
Posted on 4/2/20 at 10:35 am to VermilionTiger
quote:
I am able to refinance my interest rate on my home from 4.99 to 3.25
Yes, going through it now.
I dont know the answers to your questions. We just had our appraisal.
Will drop from 5% to 3.125%, wont shorten our lengthen our existing term.
Posted on 4/2/20 at 10:35 am to VermilionTiger
From: 4.25% for 30 years
To: 2.625% for 15 years
Could have done 3.25% for 27 years but the 15 was too good
To: 2.625% for 15 years
Could have done 3.25% for 27 years but the 15 was too good
This post was edited on 4/2/20 at 10:37 am
Posted on 4/2/20 at 10:43 am to VermilionTiger
quote:
Has anyone refinanced their interest rates through all of this?
Nope, no one. Pay no mind to the multiple other threads on the topic...
Posted on 4/2/20 at 10:55 am to Jwodie
Thanks
Posted on 4/2/20 at 11:18 am to VermilionTiger
Blows my mind some of the rates folks are getting. I have a 790 credit score and cannot get sub-3. My 15 year fix was 3.125% which didn't even help me. I am looking at refinancing my primary from 15 to 30 and hoping for 3.75%. This gives me the flexibility to lower ratios and pounce on rental property number six this Summer/Fall when you start seeing foreclosures popping up. I want to be cash ready
Posted on 4/2/20 at 3:44 pm to rpg37
quote:
Blows my mind some of the rates folks are getting.
The rate fluctuations have been crazy, and I think there were only a handful of days when rates were insanely low. You basically needed to get lucky and lock immediately.
I missed on 2.625 15 yr with no points but was able to get 2.75 a week later. Bummed I didn’t get rock bottom, but still a great rate.
Posted on 4/2/20 at 7:28 pm to VermilionTiger
Went from a 3.99 to a 2.875 30 year VA loan
Posted on 4/2/20 at 10:14 pm to VermilionTiger
We used this down time to start renovating our house. Went from 4.25% down to 3.25% + 0.25% for cash out = 3.50%. Painting entire interior, new appliances, backsplash, etc.
Posted on 4/2/20 at 10:37 pm to VermilionTiger
Just closed on our refi last Friday went from 4.375% to a 30 yr 2.875%. Very excited
Posted on 4/2/20 at 11:12 pm to VermilionTiger
I closed this week. Went from 4.675 to 3.25
Posted on 4/3/20 at 8:18 am to VermilionTiger
Yes we went from 30 yr at 4.35 yo 20 yr at 3%.
Posted on 4/3/20 at 8:22 am to VermilionTiger
I went from the gov’s 6% on my student loans to an adjustable rate that is currently @ 1.48% (LIBOR + 80 bps).
Posted on 4/3/20 at 8:49 am to the shocker2010
Congratulations
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