I haven’t given in much thought until this week. Had no idea my interest rate. I’m all about saving interest.
My rate is 3.875. Thoughts?

That is way to high...well unless you have bad credit, or debt to income ratio.

Ramsey

Refi and Do a 15 year loan and get rid of your house payment. You'll be surprised how fast it gets played off.

We did a 15 year a couple months back and it was the right move for us. Money is really cheap these days and your rate plays a large part in your monthly payment. You owe it to yourself to look into it

My current rate is 3.875, from like 12 years ago.

Current rates now???? Any idea?
Excellent credit. No debt. Except wife’s car.

Everyone’s situation is different, but I’d think you could drop at least a full point. “If” you went with a 30 year 12 years ago, then a 15 year now would have you out 3 years early and you would probably be surprised how much you would benefit financially. I will tell you the requirements have tightened from what they used to be, but it sounds like you would be okay. Go look around a little.

This.

Ours is a 15 year near 2.75.

Done in the last 6 months with integrity mortgage.

Just seems unbelievable, when we bought our house in ‘91 the rate was 12%. Refi twice, 8.125 then 6.25 for 10 years. Paid it off early in 2013. It’s a great feeling, but still have the dreaded property taxes.

I can’t get a straight answer on rates. I would go 15 and 2.5 if I can find it.

Buying a new house gets a lower rate ------- this week I checked into refinancing, 3.1% was the best rate I could get. Lot of the skam lenders say the rate is 2.6% (or lower) then charge $10k ( or more) in closing fees. Your best bet is to just pay more each month on your note.

Here is the link to a great loan calculator ---- http://bretwhissel.net/amortization/

True.

I can’t get a straight answer on refi rates. They’re all over the place.

After I looked into another refi and saw all the rate vs closing costs crap, I chose to live extremely lean for 3-4 years and squirrel every dime away. I paid it off and the savings that followed is the only reason I'm not having to go into the DROP at work.

You wont. Your situation with any company you try and go though will change based off numerous factors. We told you what to do but cannot understand it for you.

Ramsey is the man and will work hard to get you closed smoothly. He gave a loan to my client on a 30 year for a stupid low rate with no buy down. Ramsey can comment on the rate if he wishes, I believe he said it was the lowest he has ever given.

Here you go....

https://www.bankofamerica.com/mortgage/refinance/

Way too many factors go into it for someone to give you a quote from the hip, but getting under 3.0 is reasonable.

If you want to do it, do it NOW, as in like tomorrow. FHFA has implemented a new fee, in light of the current refi boom. If your loan closes after December 1, there will be a fee of .5% of the loan amount. If you get on it, you might be able to close before the end of November.

Another vote for Ramsey. I’d bet everything I have on his word alone.

Exactly...Should have started this months ago FYI.

That was helpful. It’s in the ballpark.
I’m gonna look for Ramsey and PM him.

I was told if I could save 1 percent it was worth it.

If his PM is full let me know. He is currently busy and not in town.

His pm is full.

But his email is listed. Thanks.

Another big vote for Ramsey. He did a great job for me and for everyone I’ve sent his way.

I will let him know when I talk to him tomorrow