Should I Refinance My Mortgage

Question and answers should i refinance my mortgage information

Should I refinance my mortgage now, or should I wait in case rates go lower?
I know rates have just dropped from the Feds rate cut, is there a chance there will be more cuts and I could do better by waiting? I have very good credit and currently have a 30 year fixed at 6.5 %

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 have a 30 year fixed at 6.75 %. I bought this home in late 2003 and only plan to keep it maybe 3 or 4 more years, but that could change if the market doesn't come back by then. I am currently paying $694, I am considering a refi to lower my rate and pay off an auto loan that I pay $217 for. Total now for both is $911. If I could refi my property for $92k that would take care of it, and hopefully lower the monthly amount I pay. Any ideas?

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.

Should I refinance my mortgage?
The loan would be for about $140,000. I have the choice of 6.375 % with no closing costs or 7 % without closing costs. Closing cost are about $5000. I currently have a 5 1 ARM at 5.125 % that is up in about 18 months. I plan on being in the home for about 5 more years. Thanks.

Should I refinance my mortgage at 4.75% for 15 years and pay $4000 in closing fees or go w/ a 1yr arm at 3.3%?
My 5 yr adjustable is up March 09 and the 1 yr ARM resets Dec 20 which is going to be around 3.3 %. There are no fees incurred if I rollover to a one year ARM compared to $4000 in closing costs if I were to refinance to a 15 year note. The max the 1 yr ARM can go to next year is 2 points higher. Does the mortgage rates appear to be heading much higher over the next year? I don't think so but was wondering what everyone else is thinking.

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?
I purchased my home in December of 2005. Fixed for 7 years at 6.3 % rate and then it becomes variable. I payed $5,500 in closing costs and 0 down. My purchase price was $255,000 of which only $3,000 has been payed off in principal I still owe $252,000 . I am paying $300 in PMI. With the current housing market I don't expect the value of my home to go up 20 % in the next year. I want to get rid of the PMI payment. My credit score last year was at 640, now it is at 675. My average household income for the last two years is around $150,000 year. What are my options?

Should I refinance my mortgage?
I currently have a 30 year fixed mortgage that has been paid for the last 15 years. I have only 50k left and my current fixed APR is 7.125 %. How much would I save if I were to refinance my mortgage to the current rate. My credit score is around 800.Is it worthwhile?

I have line of credit at 2.5%. Should I refinance my mortgage to fix rate?
I just use my home equity line of credit 2.5 % to pay off my mortgage. Should I refinance to fix rate? I am afraid the rate will go up.

Should I refinance my mortgage loan?
I owe about $112,000 on my house and I am in the third year of the 30 year, 6 % interest fixed mortgage. If interest rates dip to 5 % or even 4.5 % , should I refinance or should I just stay put at 6 %?