The Money Mustache Community

Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: bornInFlorida on June 02, 2020, 03:14:35 PM

Title: Refinance the jumbo loan on my house?
Post by: bornInFlorida on June 02, 2020, 03:14:35 PM

Folks, I have a $800K+ mortgage with a 7 Year ARM (currently in my 2nd year) for my house (not rental property). My current rate is 3.25%. I was planning to shop for refinancing about 1 year before my ARM expires. Should I refinance now? When would it make sense for me to refinance? Also, I have excellent credit score, would my lender lower my interest rate without me having to refinance?

Thank you!

Title: Re: Refinance the jumbo loan on my house?
Post by: waltworks on June 03, 2020, 11:17:58 PM

You should be able to get around the same rate in a fixed 30 year right now. That's what I'd do.

-W