Currently in a 15-year fixed at 3.875% - refinanced in 2017. Offers now for 3.00%
Currently in a 15-year fixed at 3.875% - refinanced in 2017. Offers now for 3.00%
Thanks - I owe $169K currently
House is valued (based on recent home sales in the hood (all houses are similar in sq ft) at $325K (only because the bathrooms are old, remodel those, and I would be around 350K).
Another wrinkle - looking to remodel the bathrooms, so was also exploring a Equity LOC, which would have a higher rate (but wouldn't start for awhile).
So refinancing at a higher amount might make sense as well.
Thanks - I owe $169K currently
Ive found some pretty awesome bathroom remodels for under $5,000. Could be worth looking into it first to say if you could save and pay cash vs paying interest on the remodel.
So that means your loan was for $185-190k and your payment is $1350-1400, right?
You have plenty of equity, so if you don't mind tacking on a couple of years, and you find an agreeable lender, you could refinance $190-195k at 3.00% for the same payment or a little less (just more of them at the end). Then that leaves you with ~$20k for your remodeling, and you're paying only 3% on it.
Where?
It will be a complete gut with replacing 60 year old plumbing