My numbers were from a quick internet search rather than actual quotes. My credit union locally is showing about 5.5%, so I gave maybe not the best number in my original post. Thanks!I am following . Our balance is 125 K at 6 %.We have a $340,000 house. I used a 0% down physician mortgage and then within about 2 weeks put in 250k when our previous house sold. That was last November. The rate is 7.65%. Since then, with scheduled payments and extra payments, we have about $68k left, so equity's at about 272k. The statement is showing about $400 of interest in each month at this point.
Do you know if there is a calculator to see if it would make sense to refinance at this time, assuming we could get 6-6.5%?
But why 6-6.5? My lender told me 5.5 and another local credit union is showing 4.85( for initial mortgage)
Statistics: Posted by familythriftmd — Sat Sep 14, 2024 10:51 pm — Replies 2 — Views 108