26d • ☀️ Chat
Refinancing a loan we just closed
Just wondering if this is worth pursuing or better to wait for interest to drop more substantially…
We closed on a house on 6/4 with a 7% interest and $9100 buyers credit which basically paid for all closing costs and gave us around $4k extra.
When I was shopping for loans, a lender gave me a lower rate that I locked ( and will expire in 2 weeks) , to refinance at 6.375% with $4000 of closing costs.
Total amount of the loan is $676k.
House appraised at 30k more of purchase price.
Refinance lender said we could bake the $4000 into the loan amount ($680k instead of $676k).
I would save $253 a month in interest for no extra money out of pocket right now.
Should we do it or wait?
Appreciate any insight you might have!
Sole
1
1 comment
Refinancing a loan we just closed
Leaderboard (30-day)
1
+10
2
+6
3
+3
4
+2
5
+2
Powered by