I get letters all the time telling me that if my rate is higher than X value, then I should streamline refinance my FHA rate. Is this worth my time? What should I know about this process, PROS and CONS? Any help would be appreciated, thanks YAHOO ANSWERERS!!!!
We are currently at an ARM with 7.125. Its due to change next month to 9.125. We only plot to stay in the home for another 2-3 years and then sell. We are being offered an 8.125% for a fixed but with a huge loan amount. Our credit, not the best. Should we consider taking another ARM (like 5/1) for a lower rate knowing we will sell the home in a few years or go with the fixed?
How much would I be expected to pay out of pocket to refinance.
current jumbo mortgage is @ 6% fixed will I be able to significantly surpass that 6-12months out?
My home will be paid off in 2017. We bought it in 1987 with a var rate the worked well for us at that time. My mortgage rate has increased from 687.00 to 892.00 over the past two years. I believe it will only take up again to rise. I owe approxiately 47K @ 6.8%. How can I calulate what my mortgage payment would be if I refinance. Help. The Widow.