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Updated 6 months ago on . Most recent reply
When to Re-Finance - Is there a rule of thumb to follow?
I'm sure this question has been asked a hundred times, but I recently purchased a duplex in May with a 7.125% rate. Now that it appears rates are coming down in the near(ish) future, what is a general rule of thumb on when to refinance? I currently cash flow $400 dollars a month. Wondering what people's thoughts are! Thanks!
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Bruce Woodruff
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Bruce Woodruff
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You gotta do the math for your situation. Yes, most people say 1% is the number where it makes a differnce, but is it worth it for you? How much will it cost you to get the new loan?
My personal number is - it has to be at least 2%....but that's just me.....