All Forum Posts by: Jeffrey Valancy

I think this last point about it being unrealistic to expect the rates to remain low is easy to miss. True, even if I were sure I would refi again in a year or two, the rates could surely go up.

This does make sense. The lender has mentioned refinancing again soon. I will ultimately get out FHA, however, given other factors, I'm not certain how soon that will be. It could be under 5 years, but probably not.

This answer is very helpful. Thank you! I suspected something of the sort, but couldn't be sure. It's interesting that you should use the phrase short game, because when I was discussing the matter with my wife I happened to have said I was playing a long game and preferred the lower monthly over the cash out.

I am looking into a fee fha streamline options. I currently have 5% interest and pay 1758 per month. I'm working with two lenders, one says he can get me 4.5% and a check for my escrow balance of 4000. The new monthly being 1684. Without the cash out, he says he can get it down to 4%, monthly being 1617 for a monthly decrease of 141. However, he is pushing hard for the payout option. The other lender says the payout option is not as attractive as it looks. I'm more interested in the lower monthly. My question: why is the lender pushing so hard for the cash payout option despite my clear I interest in the lower monthly? And why does the other lender not offer the cash out at all and advises against it?