Should I refinance now if I have a rate of 6.50?

Asked by Tina Martin, Haddonfield, NJ Wed Apr 15, 2009

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Tina Martin, Agent, Haddonfield, NJ
Tue Jan 18, 2011
I am Tina Martin and have been a Realtor for 20 years. I did not write this question as this is something a seasoned realtor would know after one year in the business or they need to find a new job. I don't know if I have been spamed or Trulia is making questions up but I hate to waste your time and expertise by sharing your responses to bogus inquiries. Realtors who respond to these questions are educated and in ernest about helping people. They are to be respected and not scammed!
0 votes
, ,
Tue Jan 18, 2011
I would love to help!

We offer special programs for realtors, that can eliminate our Lender fees.
That is amazing because you start off by saving thousands.

Rates are significantly lower than 6.5% currently.
Because we eliminate fees, you will recoup your costs probably within 6 -9 months.

What is your loan amount that is owed?

Michael DeChristofano
Home Loan Specialist
Residential Home Funding Corp.
cell: 201.403.6587
0 votes
Camille Mill…, , Flemington, NJ
Wed Apr 15, 2009
YES, YES, YES.... assuming you have a job and equity in the home anyway. It is always the time to refinance when you can shave a point or more off your mortgage. Rates are below 5% right now so you will be able to save considerably on your monthly payments. Contact the lender you currently have and a few others to see the best deal out there for you. I like Affinity Federal Credit Union since mortgage consultants don't work on commission they will tell you the best deal for your individual situation. If you need a referral just ask, i'll be happy to send you local name and number. Best of luck to you,

Camille Miller
Just Jersey Properties
0 votes
Elisa Dewees, Agent, Cherry Hill, NJ
Wed Apr 15, 2009
Hi Tina,
Why not call a lender and have them do a GFE to find out what your recapture rate will be? It doesn't always "pay" to refinance.
0 votes
Corey Grushin, Agent, East Brunswick, NJ
Wed Apr 15, 2009
Tina the answer depends on how much you owe and if you can document income.
0 votes
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