Question Details

Jag224, Home Buyer in Colorado

Is it worth doing a FHA streamline refinance to go from a rate of 6.125 to 5%, if I have to pay off 2nd loan.

Asked by Jag224, Colorado Tue Apr 28, 2009

The main reason I am questioning this move is that the second loan I had taken out for the loan will have to be paid and added to the total cost of the refinance, plus the closing costs. So I'm just worried that the closing costs plus the second loan amount is going to make it difficult to recoup the cost of a refinance. Thanks!

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The answer to this will not be based on opinion, but on math. Go to your lenders and have them help you do the math! They will be able to shed some light on what your bottom line will be!
1 vote Thank Flag Link Tue Apr 28, 2009
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