Author Topic: Refi 15 year to 30?  (Read 1209 times)

mrigney

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Refi 15 year to 30?
« on: August 17, 2019, 11:21:10 AM »
So I have a 15-year mortgage. 3.125%. Original balance was $135k, now at $100k. With 30 year rates dropping so much, at what point would you refi down to a 30 year? Currently local credit union offering 3.5% on a 30-year. At some point, seems like I should refi back down to a 30-year.

mozar

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Re: Refi 15 year to 30?
« Reply #1 on: August 17, 2019, 01:08:49 PM »
What is the exact amount of your mortgage? A lot of places won't refi under 100k so 99,990.00 won't cut it.
How many years left on your mortgage?

Goldy

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Re: Refi 15 year to 30?
« Reply #2 on: August 24, 2019, 07:02:43 AM »
The only time I have seen this make sense is if someone was nearing retirement and wanted to reduce their expenses and therefore income to qualify for ACA etc.

 

Wow, a phone plan for fifteen bucks!