Saturday, October 24, 2015

Should I refinance right now? I plan on living here for up to 10 years (2 years in so far)?


Should I refinance right now? I plan on living here for up to 10 years (2 years in so far)?
Added (1). -Current payoff statement: $232,925.16
-Purchased: Oct. 2013 for $245,000 (FHA loan/3.5% down)
-4.25% 30 yr fixed
-Currently pay $1,705 monthly

PROPOSED REFI:
-$236,250 at 3.875% (30 yr fixed/streamline FHA)
-Fees included (roughly 6K)
-NO cash out
-New estimated monthly payment would be $1,507
-Current "zestimate" is at 268K

Read more: Should I refinance right now? I plan on living here for up to 10 years (2 years in so far)?