Article Score0

I own a brand new home priced at roughly 115K with a 6.25% for 30 years. I have been making payments for about 12 months already, and considering refinancing to get a lower rate with lower monthly payments. Closing costs for CitiMortgage is roughly 2k, and USAA is 3k. CitiMortgage has offered me a 5% at .25 points, and USAA 4.75%.

If I do this refinance would I be in good shape to sell w/in the next 4-5 years or should I plan to rent it out in case I have to relocate?

HEELP!

1 Thought on Should I do the VA (streamline) refinance?
  1. Reply
    Inquisitor
    December 21, 2012 at 4:49 pm

    Find out the outstanding balance of your existing loan and use the calculator at http://www.mortgage-calc.com/mortgagerefinancing/mortgage_refinancing.html
    This site will tell you which is a better deal for you and tell you how many months you have to keep the home to break even on the re-fi costs.

    Leave a reply

    Register New Account
    Reset Password