I am thinking about refinancing my mortgage. My present balance is $95,000. It is a fifteen year
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I am thinking about refinancing my mortgage. My present balance is $95,000. It is a fifteen year mortgage that I have had for three years and the interest rate is 4.5%. I can refinance my mortgage with a new 15 year mortgage with a 3.5% interest rate with $2500 in closing costs and 1 point or a 3.7% rate with no points and $2500 in closing costs. If I roll the points and closing costs into the new mortgage, should I refinance? Why or why not?Explain
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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