Shelly F - Ohio
Disney Extraordinaire
- Joined
- Feb 22, 2004
Yep we refied with them 3 yrs old because the offered $295 and at that time the also gave you a $100 home depot gift card. They don't off the gift card offer now. even though it starts the clock back to the beginning it lowers you monthly payment so if you can swing it you can make principle payments. We had $35k left to pay so we refied had a payment of $172 but set up a autopayment with a few extra hundred a month and paid it off in less than 3 yrs. They offer 10 yr, 15 yr and 30 yr loans with refi fee of $295.$295 is the ONLY costs? Last time we refinanced, it was that much just for the appraisal. We are currently at 3%. Another thing to consider about refinancing is that it starts the clock back to the beginning. We did that 3 times. The first time was great, going from 30 years to 15 years. The 2nd time was taking out some equity to pay off debt. (dumb idea!) Then the 3rd time was when the rate dropped. We'll still have it paid off before the original 30 year mark but we made a lot of stupid mistakes and now we can only try to make up for them. Unless I can get a great rate for 5 years, I dread starting all over again.
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