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Anyone here handle refinancing?


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#1 Joker

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Posted 24 September 2013 - 03:10 PM

Or perhaps know someone that does.

 

I start looking at all the numbers and the fog starts rolling in.

 

God I hate this crap!   :wallbash:

 

 

 

 

 

 



#2 williscat2000

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Posted 24 September 2013 - 03:11 PM

yes- the answer is to do it. long term, rates will be higher



#3 Joker

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Posted 24 September 2013 - 03:23 PM

Yeah, I plan on doing it just wondering what the easiest way to get it done would be. I'm checking rates on line and it looks like I need to put down at least 5% is that right for a refinance or is that for just the original mortgage?



#4 melissaphish

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Posted 24 September 2013 - 04:37 PM

Yeah, I plan on doing it just wondering what the easiest way to get it done would be. I'm checking rates on line and it looks like I need to put down at least 5% is that right for a refinance or is that for just the original mortgage?

 

We just re-financed and didn't have to "put down" anything. There may be some closing costs, but that is not the same thing. 



#5 TEO

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Posted 24 September 2013 - 04:39 PM

Generally when refinancing you only need to pay the closing costs, which are what you should be comparing along with the interest rates.

 

(Assuming based on FMV and loan balance you already have at least 80-95% equity.)



#6 kramer

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Posted 24 September 2013 - 07:17 PM

We didn't pay any fees to refi

#7 TakeAStepBack

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Posted 24 September 2013 - 07:25 PM

Pay full in cash. :D



#8 MeOmYo

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Posted 24 September 2013 - 07:27 PM

call a bank



#9 Joker

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Posted 24 September 2013 - 07:28 PM

Thanks all, I guess the % down was for the first time mortgages.