Mortgage Loan

Should really I Refinance my Dwelling Home finance loan?





I wander you by way of the method of analyzing no matter if or not you ought to refinance a mortgage loan and present you with an workout to practice what you have uncovered.

Zillow’s record of closing expenses:

Remedy Crucial:

7 comments

  1. Great analysis, and uses my language (Excel). Just learned Goal Seek thanks to you!

    Reply
  2. Great information. Anyone considering a refi should definitely see this! I purchased my first home early this year at a rate of 4.125%. Rates are now around 3.5%, which could save me about $120 a month and over $25k in interest over the life of the loan…but I will hold off on the refi, because I could only afford 5% down at purchase, which means I'm paying $200/mo PMI. Once I get a LTV under 80%, I'll probably refi if the rates are still low, and get rid of the Mortgage Insurance.

    Reply
  3. Okay, nice analysis… however, I don't think you addressed the extra $115,000 you're saving if you stay for the next 26 years. It's more than worth the $11,000 or so that it's costing you in extra interest and closing costs.

    Reply
  4. thank you sir!

    Reply
  5. THANK YOU MARC

    Reply
  6. Check out Home Loans For All. https://www.homeloansforall.com/

    Reply
  7. Thank you Marc!  I've used your exercise to determine that the loan broker has given me a wrong and incomplete information.

    Reply

Leave a Reply