OT - anyone able to refi my house?
- Thread starter JackShephard
- Start date
Is there a certain amount of time you have to wait from the time you buy a house to when you can refinance. I bought about a year ago. I think I'm at 4 or 4.25. Just wondering if I should consider refinancing. Don't know anything about this kind of stuff. Probably relied on the realtor too much.
I not claiming to be a expert but unless you have zero closing cost, refinancing to a lower repayment period or have a really big mortgage it is not worth refinancing for 1% drop in rate. What it will save you will be eaten up in closing cost. Just my opinion. I looked into it and did the math and I really did not save money refinancing into a 20 to 30 year mortgage. 15 years will save you money.