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Posted on 6/2/20 at 11:36 pm to HYDRebs
Just locked mine. Going from 4.25 to 2.9 on a 30 year fixed.
Rolling like 3.5K in closing costs into the loan. Payment will be $250 less a month and another $45 or so less because I'll get out of PMI since my appraisal has gone up.They have to put something like 7K in an escrow but I'll just pay that with my check from the prior lender. Although maybe pocket 2K so I can finally buying stuff for the house. It's been hard with two kids in daycare. Thankfully one of them finished and is off to kinder next year. We've been buying stuff for our new house here and there but it wasn't easy paying $2.3K a month for daycare.
i just built the house last year. SO saving over $100K in interest over the loan.
Rolling like 3.5K in closing costs into the loan. Payment will be $250 less a month and another $45 or so less because I'll get out of PMI since my appraisal has gone up.They have to put something like 7K in an escrow but I'll just pay that with my check from the prior lender. Although maybe pocket 2K so I can finally buying stuff for the house. It's been hard with two kids in daycare. Thankfully one of them finished and is off to kinder next year. We've been buying stuff for our new house here and there but it wasn't easy paying $2.3K a month for daycare.
i just built the house last year. SO saving over $100K in interest over the loan.
This post was edited on 6/2/20 at 11:39 pm
Posted on 6/3/20 at 7:40 am to HYDRebs
quote:
4-6% is probably worth it at that rate, but you over payed for the sales price of the house. Did it ever occur to you why they would pay those 4-6% in closing costs?
246k for a 2700 sq ft home is overpaying?
nothing spectacular about the home but to me its a good price. we put up our earnest money in December when the builder had incentives like closing cost, upgrades, & etc.
This post was edited on 6/3/20 at 8:41 am
Posted on 6/3/20 at 8:07 am to HYDRebs
Is there a reliable and easy to use mortgage refinance calculator that essentially tells me when the 30 year or 15 year rate reaches X.XX% then it is better to refinance rather than stick with my current mortgage terms? I have looked at a few that I don't find very straight forward or may not be using correctly.
I am not looking to refinance currently but want to keep an eye on the rates in the future. I am 1 yr into a 30 yr/288k/fixed at 3.875%. Put 20% down so no PMI or any of that business.
I am not looking to refinance currently but want to keep an eye on the rates in the future. I am 1 yr into a 30 yr/288k/fixed at 3.875%. Put 20% down so no PMI or any of that business.
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