Is there any reason to not refinance?

Discussion in 'Off-Topic' started by cyfan964, Mar 9, 2020.

  1. Gorm

    Gorm Well-Known Member

    Jul 6, 2010
    2,814
    359
    83
    Male
    Amana, IA
    Ratings:
    +1,378 / 44 / -2
    Same conclusion I came to with my 15 year 3.3 percent.
     
  2. HFCS

    HFCS Well-Known Member

    Aug 13, 2010
    41,719
    4,502
    113
    Art Director
    LA LA Land
    Ratings:
    +23,323 / 729 / -72
    I've been house hunting through this almost out of necessity. Where Im looking there will often be 15-20 offers with half over list and almost always an all cash winning bid.

    The 4-5 week dip in demand may have allowed me to get a place at asking without over a dozen competitors. Been working in it for 9 months solid and hopefully it's over.

    We only looked at empty units, sometimes even buzzed in electronically, wore gloves and masks (everyone here wore masks since March anyway), we already had been signing everything virtually on all the other bids we were competing for pre outbreak.

    We've been able to get inspections done rather quick, appraisal was a drive by joke.
     
  3. BCClone

    BCClone Well-Known Member

    Sep 4, 2011
    28,040
    4,551
    113
    Male
    North Iowa
    Ratings:
    +22,481 / 672 / -3

    We are at 3.5% but with just over five years left, the fees would eat up the savings, so we are just hanging out with it as is.
     
  4. SayMyName

    SayMyName Active Member

    Jan 28, 2017
    350
    162
    43
    Male
    Former HS Chemistry Teacher
    ABQ
    Ratings:
    +497 / 27 / -1
    I'd be all over that like stink on a monkey.

    Curious, what are the fees (i.e. what is the true APR) for that loan?
     
  5. DreamyCy

    DreamyCy Active Member

    Nov 13, 2013
    935
    34
    28
    Ratings:
    +395 / 122 / -67
    estimated $1500 for closing cost
     
  6. AuH2O

    AuH2O Well-Known Member

    Sep 7, 2013
    3,665
    725
    113
    Ratings:
    +4,325 / 115 / -4
    Got 2.5% for 15 year from Collins CU. Locked in early last week. About done with the process, just got the appraisal done. I had been three years in on a 30 paying extra each month. About 1500 fees etc.
     
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  7. jackrabbit

    jackrabbit Member

    Dec 2, 2006
    72
    16
    8
    Ratings:
    +27 / 12 / -0
    Who is the offer through?
     
  8. DreamyCy

    DreamyCy Active Member

    Nov 13, 2013
    935
    34
    28
    Ratings:
    +395 / 122 / -67
    Greater Iowa Credit Union
     
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