Under 100k Mortgage refinance where are the best rates?
by Mortgage Rates on Wednesday, September 15th, 2010 | 3 Comments
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Talk to a mortgage broker – they can do all the legwork for you.
Have you considered just paying it off.
I imagine you are over 40 years old.
I bet you have some savings somewhere that are earning nothing.
Pay it off. What better way to get 5% return on your money.
And when your kids go to college, they don’t look at your home when doing financial aid. They will look at how much money you have in savings.
Hide it in the house, if you have kids going to college soon. Your kids will qualify for higher financial aid.
One more thing, refi only makes sense if you can get 1% rate reduction. “Closing costs” are hefty. Also, you are done paying all the interest, you might be at that point where you are paying mostly principal.
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With the economic crisis the United States is experiencing right now, and the growing number of bank failures and seizures because of it, you are likely concerned about your money – and rightly so, particularly if you have more than the standard $100,000.
I think you have to contact your mortgage lenders for more information.
The website below may provide some insight for you.
http://www.refinancing101.net
Good Luck……..!