When is it Worth Refinancing?

When is it Worth Refinancing?

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[bonniem]

Just finished my refi today. From 6 % to 2.5 on a 15 with a lower payment. I did not pull a penny out. Not bragging, just super proud. I’ll never live through that 2008 BS again.

[BengalTiger]

I’m 2 years into a 30-year at 4.25%. Just locked in 2.75% 20-year fixed for my refi. Not only am I slashing 8 years off, my payment will actually be lower. This is an incredible opportunity for those of you who have homes and still have your jobs.

[Lauu_kzallaz]

Sounds like a no brainer here! Don’t mess with a refi if you’re moving in the next couple years, but if you’re looking to stay in it till the mortgage is payed off it will almost always be worth it!

[pcdude]

Just finished refinancing my house from 3.75 to 2.25 . Was paying 30 years with 3.75 with a balance of 293k left and a remaining 23 years at 1910 per month. Now I am paying 1919 per month with 15 years. Shaved off 8 years from original loan

[jarredgage]

We bought our forever home 3 years ago at 4.5% and just refinanced for 2.75%. This was a no brainer

[__Ryan_]

2% is worth it unless your gonna pay it off like dave said. Even if you pay it off in 8 years like im going to its worth it in my opinion.

[geofferypmeyers]

I locked in my mortgage today on my first home purchase 🥳

[grappler]

We just refinanced and went from 4.4% to a 2.7% and went from a 30 to a 20. We think it was a good move, as we aren't moving anytime soon.

[appleforever]

I got a Refi at 2.5% for 15 years. Best thing I did!

[BossYourMoney]

Just refinance! It's a great deal

[arhamjain]

You won’t save $5000 each year as int. is charged on loan amount which reduces every month as you pay monthly instalment.
Still refinancing makes better deal

[MattTheMortgageGuy]

I don’t usually agree with Dave on mortgage but on this video he nailed it. 🤙🏼

[jmoney]

"It's great you're coming to this state [TN]. We're happy to have you. You can leave your vote back there, though."

[r.rodriguez]

4.5%... I wish that was still the case. Right now we're looking at at least 7%. Absolutely ridiculous.

[sergibn]

I think it is worth mentioning that when you go to a 15y, you also gain equity a lot faster. Even if you were to sell it at the break even point. You would have more equity.

[solidstream]

I can hear dave saying. Don’t refinance just pay cash for your house.

[stevenflores]

Your the only one who has the break even figured out by interest savings. The rest do monthly payment difference

[tdot]

I'm want to refinance as well but I dont want to live in this small place forever more like only 3-5 years but I do plan on keeping the property as a rental unit. Would you still recommend not refinancing if I plan on moving soon even if I'm keeping the property to build a rental portfolio?

[jilldoemer]

What I did not hear is how many years in on the existing loan and term on the new year

[chopperinmylivingroom]

"You can leave your vote back there" Hahaha! Love it!!