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re: I'm struggling to figure out if refinancing makes sense for my situation.
Posted on 9/12/20 at 9:33 am to whitefoot
Posted on 9/12/20 at 9:33 am to whitefoot
I am in the same boat as far as making extra payments and trying to decide if refinancing makes sense. We are planning on staying in the house until retirement which will be around 2045.
Current mortgage is a VA loan with US Bank
Original loan date is June, 2015
Original amount 260k 3.25% rate
I have been paying 2k extra a month for the past year
Current balance is 206,599
I saw yesterday someone post getting a 1.875% 15 yr rate with I-bank in Memphis. I live right outside of Memphis.
My goal is to payoff the mortgage as fast as I can, but I’m not sure if refinancing would make enough of a difference for the hassle
Current mortgage is a VA loan with US Bank
Original loan date is June, 2015
Original amount 260k 3.25% rate
I have been paying 2k extra a month for the past year
Current balance is 206,599
I saw yesterday someone post getting a 1.875% 15 yr rate with I-bank in Memphis. I live right outside of Memphis.
My goal is to payoff the mortgage as fast as I can, but I’m not sure if refinancing would make enough of a difference for the hassle
This post was edited on 9/12/20 at 10:06 am
2
Posted on 9/12/20 at 10:06 am to dltigers3
You may want to look into a VA Interest Rate Reduction Refinance Loan.
Posted on 9/12/20 at 11:46 am to dltigers3
My refi was with NASB. It was VA jumbo 30 yr refi IRRRL I got at 2.25. Paid about a half a point.
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