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The Money Mustache Community
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Refinance roll fees into principal or pay upfront
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Topic: Refinance roll fees into principal or pay upfront (Read 987 times)
shanaling
5 O'Clock Shadow
Posts: 92
Refinance roll fees into principal or pay upfront
«
on:
February 28, 2020, 03:27:48 PM »
Which way is better?
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ncornilsen
Handlebar Stache
Posts: 1047
Re: Refinance roll fees into principal or pay upfront
«
Reply #1 on:
February 28, 2020, 03:48:44 PM »
Depends, can you earn more than the interest rate on other applications of that money?
Say you have a 6% student loan... you would be better off to roll the fees in at 3.5% and use the money you would have used for closing to pay down the student loans.
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srad
Bristles
Posts: 314
Re: Refinance roll fees into principal or pay upfront
«
Reply #2 on:
February 28, 2020, 04:06:45 PM »
Yep, Its all math. Can you make more than a 3.5% return on 3-5k? I"m guessing yes, so finance it.
FYI - on refi's, i have always rolled it in.
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Dicey
Senior Mustachian
Posts: 22421
Age: 66
Location: NorCal
Re: Refinance roll fees into principal or pay upfront
«
Reply #3 on:
February 29, 2020, 04:11:04 PM »
More important is to make sure you're paying as little in fees as possible. Get your fees low enough and this is a moot question, which is the best answer.
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Refinance roll fees into principal or pay upfront