Posted: 10/5/2016 6:13:01 PM EDT
| Does it make sense to refinance for a 1-1.5% decrease if I plan on selling in a year and a half or two? |
|
Quoted:
No, waste of money. Maybe a VA IRRL if you have a VA mortgage currently. You can't say it is a waste of money without seeing the terms. What are the closing costs, and who is paying them? Home appraisal needed, also who is paying for that, lender or you? Basically, find out how much the refi will cost, then take your saved amount each month and see if that adds up to more. Edit: good point about the VA IRRL. If you have a VA loan look into this program. I was able to refi at 3.25% at no cost to me using this program. |