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should i refi?

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  • #16
    I'm in the business, and I would highly recommend that everyone that owns a home checks out what they would qualify for if they refi'd. Rates are really, really low!
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    • #17
      I'm in the business, and I would highly recommend that everyone that owns a home checks out what they would qualify for if they refi'd. Rates are really, really low!
      *************SPAM*************
      Gretsch Jet Pro (pre-lawsuit) - $550
      Ibanez RG Custom w/Floyd Rose - $450
      2005 Schecter Scorpion Baritone w/Coil-Taps - $350

      GIBSON | MESA/BOOGIE | MXR/DUNLOP

      Mark III Coliseum (Blue Stripe) | Mark III (Blue Stripe) | Mark IV (Widebody Combo) | Mark IV (Medium Head) | Triple Rectifier (Rev. G) | Dual Rectifier (Blackface Rev. D) | Dual Rectifier (Blackface Rev. G) | Rectifier Standard 4X12

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      • #18
        I'm kind of a noob when it comes to this stuff, but isn't starting your loan over sort of negate any savings you would receive from the refi? I understand if you end up dropping the years, but how much do you really ave by starting over again?
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        • #19
          I'm kind of a noob when it comes to this stuff, but isn't starting your loan over sort of negate any savings you would receive from the refi? I understand if you end up dropping the years, but how much do you really ave by starting over again?
          Facebook SoundCloudGood Deals with; STEELKAGE, LenDuffy, Yo_Squig, theemarkmiller and others I've forgottenSPAMDimarzio Paf Pro red- 30$ Shipped(one thread is worn)Ampeg VH140C

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          • #20






            Quote Originally Posted by "sasquatch"
            View Post

            do it and setup half payments, bi-monthly and that will reduce # of years. i think on a 30-year loan it knocks off 7 years. this is b/c you are paying half of your mortgage on the first of the month, before interest accrues on your mortgage by the end of the month. i just refinanced from 4.875 to 3.625 and went 20-year loan, bi-monthly and will have it paid off in 15 years.




            Be careful about these. With the ones I've looked at they simply deposit your first monthly payment and then apply it at the same time as the second one which means the savings has nothing to do with your principle being lowered twice a month, it's because you end up making an extra payment or something like that per year. It's been a long time since I looked at one of these programs so I forget the details, but I do recall that in the end I just stuck with paying extra principle every month on my own.
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            • #21






              Quote Originally Posted by "sasquatch"
              View Post

              do it and setup half payments, bi-monthly and that will reduce # of years. i think on a 30-year loan it knocks off 7 years. this is b/c you are paying half of your mortgage on the first of the month, before interest accrues on your mortgage by the end of the month. i just refinanced from 4.875 to 3.625 and went 20-year loan, bi-monthly and will have it paid off in 15 years.




              Be careful about these. With the ones I've looked at they simply deposit your first monthly payment and then apply it at the same time as the second one which means the savings has nothing to do with your principle being lowered twice a month, it's because you end up making an extra payment or something like that per year. It's been a long time since I looked at one of these programs so I forget the details, but I do recall that in the end I just stuck with paying extra principle every month on my own.
              BobSavage.net - Music, Amp demos...
              Youtube Vids
              Savage Woodworks

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              • #22
                I was always told if you can refi and lower your interest rate by at least 1% to do it. Sounds a lot like my situation too.
                PRS Tremonti Signature in Charcoal Burst
                Gibson Les Paul Studio Nitro (Electric Lime)
                PRS SE One
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                EVH 5150 III 50w / 212 5150 III cab
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                • #23
                  I was always told if you can refi and lower your interest rate by at least 1% to do it. Sounds a lot like my situation too.
                  PRS Tremonti Signature in Charcoal Burst
                  Gibson Les Paul Studio Nitro (Electric Lime)
                  PRS SE One
                  --
                  EVH 5150 III 50w / 212 5150 III cab
                  Blackstar HT-5

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                  • #24






                    Quote Originally Posted by diocide
                    View Post

                    I'm kind of a noob when it comes to this stuff, but isn't starting your loan over sort of negate any savings you would receive from the refi? I understand if you end up dropping the years, but how much do you really ave by starting over again?








                    you are starting over only in the term length, you keep your exsisting balance which is much lower than when i took out the loan. so basically you are getting a new loan on your exsisting lower current balance amount and you also get the rates they are offering now which are also lower than when i orginated the loan.
                    strat strat tele PRS agile gretsch martin

                    WINNER HCAF BEST RACK RIG 2012!!!!!!!

                    fender blues deluxe > whitebox 212

                    Good Transactions: Dehumanize, Jimosity, Panther King, Vangkm, Ejendres, Killindux, Colejustesen, SDMFVan, twisty571, dolf

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                    • #25






                      Quote Originally Posted by diocide
                      View Post

                      I'm kind of a noob when it comes to this stuff, but isn't starting your loan over sort of negate any savings you would receive from the refi? I understand if you end up dropping the years, but how much do you really ave by starting over again?








                      you are starting over only in the term length, you keep your exsisting balance which is much lower than when i took out the loan. so basically you are getting a new loan on your exsisting lower current balance amount and you also get the rates they are offering now which are also lower than when i orginated the loan.
                      strat strat tele PRS agile gretsch martin

                      WINNER HCAF BEST RACK RIG 2012!!!!!!!

                      fender blues deluxe > whitebox 212

                      Good Transactions: Dehumanize, Jimosity, Panther King, Vangkm, Ejendres, Killindux, Colejustesen, SDMFVan, twisty571, dolf

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                      • #26
                        Hell yes, I got 2.75% for a 15 year.
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                        • #27
                          I'm doing it right now and am getting the same rate for a 20 or 30.
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