Should I refinance?

The best way to determine your Net Tangible Benefit is to take the $2000 it's costing you and divide it by your monthly savings of $100... 2000/100= 20. It will take 20 months for your refinance to pay for itself.. if you're going to be in your home for more than 20 months, it's absolutely worth it...

Considering your credit score you can qualify fior a lower rate than 4.25 % depending on your loan amount. I may able to get you a 30 year fixed at a rate below 4%. which woudl save you more than a 100 month. I will also strive to keep your closing cost to the bare minimum. Give me a call as I can help youGordon DempseyMortgage SpecialistSet2GoLoans,Inc540 293 9296

Yes, no and maybe. Ultimately, it depends upon your goals...time versus money. The numbers need to be analyzed along with your goals...give me a call if you want some clarification. A no cost loan makes sense if you are not staying in the home. $2000 in closing costs may make sense for staying a few years. Structuring a loan "forever" and focused on paying the mortgage off? It may make sense to pay more in closing costs, reduce your payment to the lowest possible amount and use the savings to pay principal reductions month over month. Anyone can quote a rate and fee...it is really time for mortgage professionals to become the true consultants we have the knowledge to become. IMHO.