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All depends on the closing costs Posted by Bill Homer [Email] (#3427) [Profile/Gallery] (more from Bill Homer) on Tue, 14 Dec 2010 19:50:21 In Reply to: Refi question, yaofeng, Tue, 14 Dec 2010 12:13:39 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I just refinanced a mortgage that I refinanced last year - zero closing costs other than the appraisal made this work for me. I thought that I would never touch an ARM again, but a 2.875% 30 year 5/1 ARM will save me almost $1000 per month for the next five years. Oh, did I mention that I have a kid who will be entering college in five years? It will take at least eight years to start approaching a down side, will I still be living here? Who knows.......
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