realistically, how much lower does the interest rate need to be than your current rate to make this worth while
i currently am paying off a hoime i purchased at 101,500 and at 5.5%, i bought the home in 2004, right before everything got all stupid. the home almost doubled in value and snice the "market crash has since decreased in value, however it should still be worth about 30 to 40 thousand than i paid for it. i am simply looking to cut monthly bills. by eric rausch from Hapmton, Virginia. Jan 24th 2011
Dan Paladin (dpaladin)
#356 ranked lender in California - 792 contributions
Typically I advise my clients that you should save at least $100 per month. Also lenders do have a Net benefit to borrower guideline....such as decreasing a payment by 5% or converting from an arm to a fixed or shortening the term..30 yr to 20 yr or 15 yr....we do provide a no cost loan comparison to see if it makes sense for you....Dan "The Loanman"...
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