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Updated almost 5 years ago on . Most recent reply

User Stats

913
Posts
640
Votes
Michael King
  • Rental Property Investor
  • Navarre, FL
640
Votes |
913
Posts

Who's refinancing March 2020?

Michael King
  • Rental Property Investor
  • Navarre, FL
Posted

I just got a quote for 3.0% on my primary. On $250K at 4.375% at present, a drop to 3.0 will see my monthly drop by $200, and interest reduction of $300 on the first repayment. Is now the right time to refi, or should I hold out til next month? My bank manager said he's locking his own in at present rates (he probably gets a better rate). I feel like I should follow suit. Any thoughts?

Most Popular Reply

User Stats

147
Posts
91
Votes
Blake Garcia
  • Rental Property Investor
  • Big Sandy, TN
91
Votes |
147
Posts
Blake Garcia
  • Rental Property Investor
  • Big Sandy, TN
Replied

I'm Refi-ing my apartments. Hoping to close next week. 4.35% 25 year. The 0.5% drop from yesterday will make a difference but I don't see lenders coming down all the way. I'm just happy to get down from my 6% and save my $600 per month on each property.

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