Should I Refinance My Mortgage

Question and answers should i refinance my mortgage information

Should I refinance my mortgage?
I currently have a VA 30yr fixed 5 % mortgage on $330,000.The economy being what it is, my cash flow is temporarily hurting. I want to keep my home but need to get over this slump.I've been offered a VA 5 1 at 4.25 % which will allow me to skip 2 months payments payments are actually rolled in and decrease my payment by $100 per month. Closing costs will be rolled in so no out of pocket which is what I need right now.BUT... my principal will raise $13,000 to $343,400... and I'm concerned mortgage rates will climb dramatically by year 5. I plan on owning this house for at least 10 years.The refi will help me in the short term but will it hurt me in the long term?I don't know what to do. Help please.

Should I refinance my mortgage?
I have 12 years left on my 15 yr mortgage with a monthly payment of $1945. We borrowed $240k at 5.375 %. Now I can $205k left and can refinance at 4.25 % with $2500 in closing costs. I would like to put another 25k to drop it down to 180k borrowed for a 10 yr loan. This will drop my payments a little and shave off almost 2 yrs from my loan. Is this worth doing? Yes, I plan on staying hear at least 7 more years.

With the emergency rate cuts by the Fed yesterday, should I refinance my mortgage? I have a 30 year at 6.125%
I bought in Oct 2006 with 20 % down for a $250K house. Got a 30 year mortgage at 6.125 %. With the emergency fed rate cut yesterday, is now a good time to refinance or do you think it will go down more? How much cash do you need to refinance? Thanks

Should I refinance my mortgage loan?
I'm 56 years old. I owe about $ 117,000 and I've got 21 years left on my 6 % loan.My house is worth about $ 235,000.

Should I refinance my mortgage?
I currently am one year in on a 5 year fixed ARM at 5.5 %. I can refinance into a 30 year fixed at 5 %. The payments come out to be about the same I guess from the closing costs of the refi. I know I will need to refinance before the ARM is up anyway. Is it worth refinancing now or should I hold off a couple years?

Should i refinance my mortgage?
i just got a 130,000 dollar 30 year loan about 10 months ago at 6.25 interest rate. now i can get an interest rate at about 4.9. How much would it cost to refinance, and would it be worth it? I just need to know how long it would take to make this worth it. thanks for the help

Should I refinance my mortgage?
I heard if you refinance, you pay more on the interest than the principle during the first few years. After the first few years, your mortgage payment which goes into the principle is increased. For example, a mortgage payment of $1600, $1400 would go into the interest and $200 would go into the principle. After the first few years, $1000 would go into the interest and $600 would go into the principal. If I refinance and save only half a point, would it worth it? I don't have to pay any cost at all .

Should I refinance my mortgage now?
We financed $100K in 2002 at a 6.875 % fixed APR. Would it be beneficial to refinance now? If so, should we contact a broker, our current lender, or someone else?Also, we'll be adding on to our house in about 6 months. Should we wait until then, or will rates go up?Thanks

Should I refinance my mortgage?
My home is appraised at $105,000, my mortgage is at 5.875 % with a balance of 67,000, I also have an equity loan at 31 2 % with a balance of $16,500 should I refinance ?

Should I refinance my mortgage interest rate?
Should I refinance my interest rate on my home mortgage? I have been in my home for 9 years and an employee from Chase finance Chase is my current lender said for me not to refinance since I have paid off a good portion of the interest. Is this true? Should I refinance? My Chase mortgage interest rate is 6.5 fixed.

Should I refinance my mortgage?
I purchased in 2006 for 74000.00 in Cleveland Ohio, A year later I took out a Equity Loan of 15000.00 to pay for new windows, paint job, and furnace air conditioning, energy efficient appliances, and wiring updates. My current rate is 6.5 on a 30 year fixed conventional. I went to my current loan institution recently and was told that the current rate was about 5 percent now, but was told that I could not do a refi with my current backer with was Fannie Mae due to the big mortgage crisis they have gone through. So it would be a total refi and would then get slammed with closing costs. However they told me that I would have to combine the 1st and 2nd mortgage home equity loan into one, and that would put me at a greater then 80 % loan to value, which would require me to carry PMI mortgage insurance . When it was all said and done, i would be saving roughly 30.00 a month on my current bill???? If i didn't have to carry PMI it would be about 100.00 in savings a month? Have things changed again, should i retry this attempt. Should i get an appraisal, cause he told me my home would have to appraise for 103,000 to not have to carry pmi. I believe my home is worth every ounce of that, but the current market might not any help would be appreciated.