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Updated almost 14 years ago on . Most recent reply

Jordan L.'s profile image
Jordan L.'s profile image
Jordan L.
  • Investor
  • from Newbury Park, California
  • Member since Dec 16, 2010
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User Stats

80
Posts
19
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Jordan L.'s profile image
Jordan L.'s profile image
Jordan L.
  • Investor
  • from Newbury Park, California
  • Member since Dec 16, 2010
Connect
Jordan L.
  • Investor
  • Newbury Park, CA
19
Votes |
80
Posts
Creative Real Estate Financing

Should I refi this property?

Jordan L.
  • Investor
  • Newbury Park, CA
Posted

Current loan 6.125% 30 year fix finishing year 7 next month. Loan amount 119k. Principal/interest $857 per month. If I don’t refi and just keep paying the minimum, I will have paid $236,532.

I can refi at 5.125% 30 year fix. After fees, loan amount will be 125k. PI will be $606 per month. After 30 years, I will have paid $218,160.

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