Quote:
Originally Posted by TNLAKEPANDA
Has anyone done a refinancing recently? Who did you use and what kind of rated did you get? I don’t want to spend a lot of up front money to refinance.
Thanks
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My opinion.
I do not see or know the future BUT, interest on the ten year treasury has gone over 1%.
That is historically low but it has been lower. I saw a show the other day where the talking heads predict 2% in 2021.
As to rate, you need to explore. We do not know if you are talking 15 year 30 year or what your credit is.
Money up front to refinance. I looked around and I spoke to my accountant. I was shocked to discover the bank that now has our mortgage, wanted to charge us
roughly $4,000 in closing costs. Nothing has changed. That is the gotcha.
I do find it amusing. Due to regulation, with the average age around here being 70 they cannot hold age against you. You can be 70 and get a 30 year mortgage. Chance of living long enough to pay it off is close to zero as is the chance of you staying in that home for 30 years.