I refinanced a year ago from 3.875 to 3.125 and am looking again to try and get 2.25. All 30 year.
Amazing , 30 at 2.25% , 15 below 1.99% , use cash out to borrow money so cheap and pay your high interest debt.
Make sure when looking online at rates that you are looking at the refi rate and not purchase rate as the spread can be considerable depending on the bank.
Low rates are pushing up prices of homes. Its good if you are refinancing old debt, but I would hate to be a first time home buyer right now. Once rates start back up you will see deterioration in value. Some people are going to be upside down. Rising rates will hit land values too.
Construction materials have sky rocketed.or any new home buyer. we've been snooping at new homes just to see what's out there and they are all expensive compared to a year or two ago.
Wow HELOC under prime And fixed? Great rate.Thought about refinancing to take out money for a remodel, but our 15 year rate is already 2 3/8 from a refi in 2016. I wasn't able to find a combination of low closing costs and a low take out refi rate. Might have pulled the trigger if I could get 2.25% and less than $1500 in costs.
Ended up going with a HELOC from Veridian. 3.1% rate that is fixed for 5 years. Closing costs were $273.
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That’s right around what it should cost. The next question is at what interest rate?Last bank I checked with for a refi had closing costs around $2k plus escrow. I think I should probably keep shopping.
That’s right around what it should cost. The next question is at what interest rate?
can you get behind a 15 year note? With PMI savings, bigger interest savings... payments with a 15 year may be only a bit more than you currently pay.The interest rate for a 30-year refi was 3% and they said they could drop my PMI. This was a couple months ago. I'm at 4.25% now and I pay $120/mo PMI. But my new payments didn't drop as much as I thought they would which made me hesitant. I need to look into it again.
Thought about refinancing to take out money for a remodel, but our 15 year rate is already 2 3/8 from a refi in 2016. I wasn't able to find a combination of low closing costs and a low take out refi rate. Might have pulled the trigger if I could get 2.25% and less than $1500 in costs.
Ended up going with a HELOC from Veridian. 3.1% rate that is fixed for 5 years. Closing costs were $273.
H
The interest rate for a 30-year refi was 3% and they said they could drop my PMI. This was a couple months ago. I'm at 4.25% now and I pay $120/mo PMI. But my new payments didn't drop as much as I thought they would which made me hesitant. I need to look into it again.
Any annual fees on this? That's a helluva deal for a HELOC. I've had one for convenience that I almost never use, but it's variable, and that's not going to be nearly as attractive very soon.
i should've waited. my 15 year loan is 2.625. oh well
can you get behind a 15 year note? With PMI savings, bigger interest savings... payments with a 15 year may be only a bit more than you currently pay.