Is it a good decision?

Hello there, "High Hands",

We have about 180K cash in hand and $520K in mortgage at 5.875% right now. We decided to refinance our home. Since the rate on regular loan is over half point better than jumbo loan, we decided to pay off $100K to cut down the loan size to $410K so that to enjoy the lower rate.

Is it a good decision? Thanks.

所有跟帖： 

• quiet? Ok, I got a rate 4.375% locked today in NJ -黄小金- ♀ (0 bytes) () 01/08/2009 postreply 11:46:12

• I would do all possible things to keep rate low. -cultuslake- ♂ (0 bytes) () 01/08/2009 postreply 11:50:55

• 回复：4.375% with No point is a great rate today -mathstudent- ♂ (108 bytes) () 01/08/2009 postreply 11:55:31

• no point, but with fees -黄小金- ♀ (0 bytes) () 01/08/2009 postreply 12:00:35

• Very good rate. May I know your agent's name and phone number? -晓猪妈- ♀ (53 bytes) () 01/08/2009 postreply 15:51:19

• No. -屋漏痕- ♂ (31 bytes) () 01/08/2009 postreply 11:59:27

• thanks...that's how we're going to do -黄小金- ♀ (0 bytes) () 01/08/2009 postreply 12:01:20

• If that's the case, the next step is to determine a future -屋漏痕- ♂ (257 bytes) () 01/08/2009 postreply 12:08:01

• 回复：Is it a good decision? -苦乐自知- ♀ (25 bytes) () 01/08/2009 postreply 13:22:13