So about that refi. Apparently we're doing it, because today we can get 5% with no points. So even with getting the mortgage insurance, our payments will be about $100 less a month. Also the fees are less, I think because we're not paying points? I don't know. But the other thing about this thing is that we'll have the fixed rate for however long we're in the house. That reminds me of the note I wanted to add about the last post about this refi: the 30 year mortgage has a cap of 2% over the life of the loan, which I forgot about when I was talking about the future 30% rates I'm expecting. So even if we didn't do this, we wouldn't get too burned with rates getting out of control.
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Monday, January 12, 2009
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1 comment:
Would you like to ask the appraiser, how after making $20,000.00 worth of improvements on the home, it is now worth so little?!? Was he wrong then or now?
Daddeo
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