Author Topic: Refinancing Question  (Read 445 times)

CSuzette

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  • Location: Boston, MA
Refinancing Question
« on: April 08, 2020, 12:34:13 PM »
My current mortgage is a 30 year fixed at 3.99 percent.   I got an offer from Quicken for 3.5 percent so kept looking.

I just contacted Lendingtree and I can get a 15 year at 2.25 percent at 9,700 or 2.75 percent at 4,700. I live in a high rise condo so apparently they are higher risk and come with more fees than a SFH.

I plan to live here two more years but plans could change and I could hang onto it longer.

Do these seem like good rates and how do I make this decision?  My credit is in the 800s. Also the condo is worth 750K and I owe 190K.

Thank you!
« Last Edit: April 08, 2020, 12:38:19 PM by CSuzette »

srad

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Re: Refinancing Question
« Reply #1 on: April 08, 2020, 12:56:31 PM »
I wouldnt refi unless you plan to hold this place for several years.   But do the math, you have the closing costs, see how long it will  take to break even.