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Message
re: Current Mortgage Rates
Posted on 6/2/20 at 10:45 am to HYDRebs
Posted on 6/2/20 at 10:45 am to HYDRebs
Need some advice
Currently 6 months into a 30 year @ 3.75
Aimloan is offering me a 25 year @ 2.875 with the fees/points/etc rolled in.
My monthly payment would go up by about 30 bucks but I'm shaving 5 years and approximately 90k over the life of the loan. I'll come out ahead on principal by may of 2022.
Worth it? We plan on staying in the house at least another 5 years.
Alternative is to get another 30 year @ 3.25 or so which would lower my monthly payment by about 100 dollars
Currently 6 months into a 30 year @ 3.75
Aimloan is offering me a 25 year @ 2.875 with the fees/points/etc rolled in.
My monthly payment would go up by about 30 bucks but I'm shaving 5 years and approximately 90k over the life of the loan. I'll come out ahead on principal by may of 2022.
Worth it? We plan on staying in the house at least another 5 years.
Alternative is to get another 30 year @ 3.25 or so which would lower my monthly payment by about 100 dollars
This post was edited on 6/2/20 at 10:49 am
1
Posted on 6/2/20 at 1:22 pm to JohnnyKilroy
quote:
Worth it? We plan on staying in the house at least another 5 years.
Not if this is your plan
I would suggest IO 7yr but Chase is the only one offering I believe besides out of the Box lenders which is much higher rate
Take your 30yr and save the 100 for the next 5yrs
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