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Pensacola Discussion Forum » General Discussion » It's a good time to refi

It's a good time to refi

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1It's a good time to refi Empty It's a good time to refi 3/9/2013, 7:40 pm

Guest


Guest

With rates as low as 3.5%, It's a no brainer to refi when the gettings good. I am going through a refi w/ Quicken loans and they are taking forever to close. They have offered a no cost refi w/ lenders credits but at the last minute said they wanted a survey.Has anyone used them before?

2It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 7:54 pm

Nekochan

Nekochan

Yes, it is a good time to refinance. Also to buy a house if you have decent credit and a down payment. We've never used Quicken and I don't know what the typical closing time is today for refinancing. I do know when we bought our last house, almost 3 years ago, the loan process was very slow and tedious even though we had a large down payment. For anyone refinancing a 30 year loan I would highly recommend going down to a 15 year loan if you can afford the little bit extra in payments.

3It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 8:46 pm

ZVUGKTUBM

ZVUGKTUBM

There is no need to refi when your house is paid for. The wife and I have been mortgage-free since November 2011. Smile

We built our house in 1990, and started with a 30 year loan, then did a refi for a 20 year loan, and a second refi for a 10-year loan. I paid the final refi off in 7.5 years by adding additional interest the last 3 years.

http://www.best-electric-barbecue-grills.com

4It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 8:51 pm

Guest


Guest

ZVUGKTUBM wrote:There is no need to refi when your house is paid for. The wife and I have been mortgage-free since November 2011. Smile

We built our house in 1990, and started with a 30 year loan, then did a refi for a 20 year loan, and a second refi for a 10-year loan. I paid the final refi off in 7.5 years by adding additional interest the last 3 years.

My thoughts exactly Z-Man. I have been fortunate enough to have never taken a mortgage on any house I have owned.

5It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 9:05 pm

Nekochan

Nekochan

Well, at 3% or so, it's almost crazy nowadays to not take out a mortgage. The mortgage on the first house we bought was 30 years at 9 1/2% which was considered a low rate after the crazy high rates in the early 80s.

6It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 9:13 pm

Guest


Guest

ZVUGKTUBM wrote:There is no need to refi when your house is paid for. The wife and I have been mortgage-free since November 2011. Smile

We built our house in 1990, and started with a 30 year loan, then did a refi for a 20 year loan, and a second refi for a 10-year loan. I paid the final refi off in 7.5 years by adding additional interest the last 3 years.

It's a good feeling havin that bill gone.. Very Happy

7It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 9:28 pm

Guest


Guest

Debt is good... Less is more... Control is freedom... Rules are liberty... Your neighbor is the enemy... I feel better already.

8It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 9:47 pm

Floridatexan

Floridatexan

PkrBum wrote:Debt is good... Less is more... Control is freedom... Rules are liberty... Your neighbor is the enemy... I feel better already.

I think you need to reread your Orwell. Debt at 3-1/2%, especially the way mortgages are calculated, is a hell of a lot better than debt at 9-1/2%.

9It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 9:55 pm

Nekochan

Nekochan

You can get a 15 year at 3% or less right now....I think it's crazy not to buy a house today if you pretty much know you're going to be in the same place for a few years and you're able to make the payments.

10It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 10:09 pm

Guest


Guest

You're right... but don't pretend that it isn't by design. That is the fatal mistake.

11It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 10:15 pm

Nekochan

Nekochan

I don't know if it's by design but everyone needs a place to live.

12It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 11:16 pm

ZVUGKTUBM

ZVUGKTUBM

PkrBum wrote:You're right... but don't pretend that it isn't by design. That is the fatal mistake.

The bankers aren't allowing this out of the goodness of their rotten hearts. I agree with Lurch--it is a good feeling to be debt-free. I am hoping to never take a loan out for anything ever again, if I can help it. We drive vehicles for years and credit card balances get paid for before the banksters can earn any interest from them.

http://www.best-electric-barbecue-grills.com

13It's a good time to refi Empty Re: It's a good time to refi 3/9/2013, 11:44 pm

Guest


Guest

I want some land and a house in Jay or somewhere just south of there.

14It's a good time to refi Empty Re: It's a good time to refi 3/10/2013, 1:01 am

Guest


Guest

All indicators say aquire debt... resistance is futile.

15It's a good time to refi Empty Re: It's a good time to refi 3/10/2013, 1:53 am

gulfbeachbandit

gulfbeachbandit

PACEDOG#1 wrote:I want some land and a house in Jay or somewhere just south of there.

In Jay you wont get home invaded, One less thing to worry about.

16It's a good time to refi Empty Re: It's a good time to refi 3/10/2013, 4:25 am

Guest


Guest

gulfbeachbandit wrote:
PACEDOG#1 wrote:I want some land and a house in Jay or somewhere just south of there.

In Jay you wont get home invaded, One less thing to worry about.

U r right

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