Coop Mortgage Rates
Is it worth refinancing if interest rates fell 1 percent?
New 30 years Mortgages last year, the interest rate is 1 percent lower, which reduces my monthly payment. But closing costs – again. We will re-coop the closing costs after two years, but what do we save the life of the loan?
Yes, if you can make closing costs after two years would be worth it. You will save thousands over the life of the loan. Here is a great calculator that you can use to find out saving a number of ways to compare both loans http://bit.ly/4uQPY2