Any of you guys pay extra on your mortgage?
It's helped me a LOT. I can't believe how my principle has dropped in the last 5-6 years.
Rental property rates aren't great. Not sure how they classify a second home.
Quote:
Originally Posted by TboneS54
I'm in a similar situation. Rental property is at 4.25 which was very very good for an investment property a few years ago. Primary is at 4.125. Not exactly sure which I want to refinance, if not both, but I don't feel any rush in doing so. I do think about moving in the not so distant future, so refinancing the primary may not really be worth it (starting the clock over only to pick up and leave soon thereafter). I certainly would do a "free" refi, especially since rates are so low.
If there was more harmony and stability in the world, I'd be more inclined to refi quickly and sit on it, but unfortunately, I think low rates will be around for a while.
|
I just closed on a ZERO cost refi on a $600,000 loan at 2.99%. It's a tiny bit lower now with the market crash last week. PM me if you want his info. It's through Quicken loan. Lots of paperwork but pretty painless.
You're in California, the value of your house will mostly likely go up considerably in the long run. Consider renting it later. Houses out of state are CHEAP in comparison.
.