[jonesey]

make refinancing worth it? ? I have a fixed rate 15 year mortgage at 5.375%. I still owe $100,000 on my home. I'd love to refinance since I know I could probably get a rate below 4 1/2%. With the taxes and fees, would that be worth it?I'm not looking to pull cash out of my house on this deal - just to give the bank a little less of my dough! I thank you in advance for your help. Please let me know the source of your information.

[Paul P]

Whether it's worth it or not depends on how much the taxes and fees actually are. You need to add those costs to the total amount you are borrowing and then compare the monthly payment on the new mortgage you're considering with what you're paying on your existing mortgage.Here in the UK, low interest rates have meant that people on SVR(variable interest rate mortgages) are better off staying where they are because of all the fees associated with remortgaging, together with the risk that further falls in interest rates could leave them stuck on a higher rate for years. In a nutshell then, it can be worth remortgaging but you need to consider all costs before deciding. Hope this helps.

[foreclosureexpert]

Hi, you should always try to negotiate the closing costs and definitely lock in at the lowest rate since they are super low right now! Shop around and just compare payments. One thing I recommend is checking out this site To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. because they do this report that will qualify you with up to 40 different banks or something. Its cheap i think its like less than $40 bucks and you pay a monthly fee of like 30 dollars to update the report anytime and make sure you get the best loan! i got this and it helped me..hope that helps!