Refinance Or Not?

When you are lowering the rate and shortening the the term, it almost always makes sense to refi to a lower rate if you can do so at little cost. To know for sure, it would depend on what you are paying for the refinance. A 10 year fixed at that rate should definitely not cost any points and in fact, it should rebate quite a bit in points back to you; so if structured properly, it could be a good deal. Contact me if you have questions or would like another quote. Gregorio Denny --WeFixRates.Com --

If you did it with no fees it would make sense because you are not increasing your loan balance and getting a lower rate. Let me know if you want to know how to do this. Take care,Kyle StancatoBayview Home Loans253-460-6000

It's pretty much an equal situation. Use an amortization calculator and play with the numbers. You may find it's not worth the trouble.Happy funding, Rudi

If you are about 6 years in and now owe about $100K, I am guessing your original loan was $125K. A payment on $125K for 20 years at 5.63 would be about $869 per mo. Based on the figures I ran, I am guessing that if you refinanced to the scenario you mentioned, you would save about $65,000.If you would like the details, call or email me at 888-PierWest(743-7937) X 701 or Matt@pierwestcapital.com.Best,Matt