littlefishParticipantStatus: PhysicianPosts: 34Joined: 06/24/2017
Interested to hear people’s thoughts on if it is worth refinancing my 30-year fixed (3.99% with $400k) if I plan to pay it off in 10-15 years. ThanksAugust 18, 2019 at 8:51 am MST #239591CordMcNallyParticipantStatus: PhysicianPosts: 2851Joined: 01/03/2017
Maybe, maybe not. There are quite a few calculators out there where you can plug in your current mortgage along with your refinance rate, closing costs, etc. and it will give you the break even point. Without knowing most of those variables, the answer is probably yes in your scenario.
“But investing isn’t about beating others at their game. It’s about controlling yourself at your own game.”
― Benjamin Graham, The Intelligent InvestorAugust 18, 2019 at 8:53 am MST #239593jfoxcpacfpModeratorStatus: Financial Advisor, Accountant, Small Business OwnerPosts: 8137Joined: 01/09/2016
Depends on the closing costs and how long you plan to live there. I recommended the zillow calculator to someone else on the forum this week, it’s one of the best (impo).August 18, 2019 at 9:01 am MST #239597PedsModeratorStatus: PhysicianPosts: 4447Joined: 01/08/2016August 18, 2019 at 9:29 am MST #239600jhwkr542ParticipantStatus: PhysicianPosts: 1316Joined: 02/15/2016
You’d have to apply for mortgages and get the numbers on a 15 year mortgage. So… maybe?August 18, 2019 at 9:33 am MST #239603