Time to refinance? How low can mortgage rates go? Reuters Blogs (blog)
Mark Sass and his wife Jan decided to refinance the mortgage on their Cincinnati, Ohio, home on Friday, just days before the Federal Reserve pledged to keep rates near historic lows through the first half of 2013.
“I knew the Fed statement was coming out and rates had dropped to historically low levels, and it just seemed like an opportune time. I hadn’t even thought about it until then,” says Sass, who owns his own marketing research company.
Their original mortgage had a 20-year amortization period — at a 4.875 percent rate — with 12 years remaining. They are rolling it over into a 10-year mortgage with a 3.5 percent rate. “I was able to knock a couple of years off the term with a very modest increase in the monthly payment,” Sass says. “It seemed like a no-brainer to me.”
Sass and his wife are both 55, so retirement is on the horizon. “The opportunity to look 10 years out and know that – unless things change – we won’t have a mortgage when we retire looked like a smart decision,” Sass says, adding the overall savings on interest by reducing his term will be in the neighborhood of $20,000.
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Where is the best place to Refinance student loan?
I Would like to refinance my student loan and maybe consolidate it.
What are my best options and the best banks. By the way i have a personal loan .
Does anyone know?
Yes I do know a place, I just got a loan myself
Best way to refinance the student loan?
My girlfriend has an outstanding student loan of $3,000 with 8% annual interest day. What's the best way to refinance this loan in order to reduce the payments? If you know any good student loan programs, I would like to hear about them.
Typically lenders won't do a refinance for any amount less than $7,500, it's just too costly for them to make sense.
Contact the current lender to see if the offer any type of rate reduction program. Some lenders offer a discount if you allow them to auto deduct the payment from your checking account, also if you have a good payment history you may get a discount for that.
http://badcredits.awardspace.com/student-loans.htm
The minimum amount that the candidate of the bad credit student loan is required to earn has also increased. Bad credit student loans are available as both secured and unsecured loans-->depending on whether you are a homeowner or not. The rate of interest to be paid on unsecured bad credit student loans is higher than that on secured bad credit student loans. This is because the secured bad credit student loans are backed by your home as a security.
If the problem is that the current payments are too high or if you are in between jobs then definitely check with your lender, but be aware that reducing your payments or delaying your payments will significantly add to the total amount that you'll end up paying.
Good luck!
Which is best to pay the principal on a loan or refinance? Seeking best answer for overall loan payment?
The auto loan is for 60 mo @ 14.9%. The total cost of the current loan is $41,000. I have paid on the loan for 15 months now and have been receiving refinance rates @ 7.9% for 60 months. This would add another year to the life of the loan.
I have no problems paying the current loan amount and plan in Aug to begin paying an additional $250 a month on the principal. There is no penalty on my current loan for paying off early and there is no balloon payment at the end.
I want to do what is best for my credit rating, I am in the process of repairing after a wicked divorce. Currently at a 684, goal is to get it above 750 to help with future goals for business and personal financial decisions.
Do both! Re-fi AND pay additional principal each month. The re-fi will extend the POTENTIAL life of the loan but since you're planning on paying extra you'll actually pay it off sooner than just paying extra on the higher rate loan since less of the payments will go towards interest!
This will give you the side benefit of a lower required payment for any given month if funds should get tight.
If you have made it though a nasty divorce with a 684 FICO score, you're actually slightly above average and right on the border for prime paper. It sounds like you've got your ducks lined up in a nice straight line, so march 'em on down the road!
And . . .if they'll give you 7.9 over 60 months, would they give you 7.5 over 48? And you should keep paying the same amount you were paying before - ie, overpaying, to pay the loan off faster.
But if it were me, I'd sell the $40,000 car and buy a $10,000 used Saturn, and have it paid off in a year.
IF you are looking to repair credit, it would help to refinance it. It would show the first loan as being satisifed and paid in full, plus you were able to qualify for the second loan. It would increase your credit score.
Sell the vehicle and take anything you make (after paying off the loan), and buy a used car with NO PAYMENT. Then you can take the payment (and the $250) and save for your next car. You'll buy that using your old car as a trade and the cash you've saved up (should be around $17,000 saved plus your trade). Again, newer car, no payment. Keep saving the money and you can trade up again in another year. You'll have a nearly new (NEVER buy new cars) car with NO PAYMENTS!!!!
PS - I'm nearly debt-free (no credit cards, no loans except mortgage) and my score is 795 - just checked today.
What is the best Mortage company to help me with a refinance loan with less than perfect credit?
I was not very smart about 2 1/2 years ago and financed with HFC and was not able to include in the loan my taxes and home owner insurance. Now it is killing me to pay my taxes every month. Does anyone have any suggestions as to how to get out of the mess I put myself into? Thanks
my best advice is to follow Mortgageman....and
DO NOT follow any of these internet offers ("I can get you the best"....) you know they are all scams.
in today's market it is essential to be VERY careful...people are losing their homes to foreclosure in massive numbers every day, while the loan rep makes his commission.
Also please do not accept any ARMs (adjust rate mort)...go with only a FIXED and no pre-payment penalities.
good luck.
I got your question on yahoo answer, i will like you to do is that you can contact e if you need a loan to rectify all your financial problems.
Thanks.
Best place to refinance car loan?
I want to refinance my car loan. Who is the best lender, online or regular?
Your bank or credit union should offer better rates than you can find anywhere else.
You'll want to check these guys out....99% approval they say.
http://www.123thebest.info/go.php?link=auto
Take care.
Where is the best place to refinance my car loan?
When I first got my car in March 2006 my interest rate was 17.9% I refinance in September 2006 with E-loan for a rate of 11.04% we recently bought a home and our finally establishing some credit. So I think it's time to refinance again. Does anyone recommend a great place to get a great rate?
Why not use E-loan again?
I've had good luck here...
http://auto.deal4-you.com
Have a nice day.
http://www.ratezip.com/auto.html
Where is the best place to refinance my auto loan?
When I first got my auto in March 2006 my interest rate was 17.9% I refinance in September 2006 with E-loan for a rate of 11.04% we recently bought a home and our finally establishing some credit. So I think its time to refinance again. Does anyone recommend a great place to get a great rate?
Thanks I really appreciate it!
Why not use E-loan again?
Realize that interest rates have risen during the past 2 years and with your mortgage, you may not be able to do better than 11%. Plus, your car has continued to depreciate and there may not be any equity remaining for a refinance. Just be happy with what you have and make timely payments until the balance is $0.
Is there a specific company that offers the best home loan loan refinance?
Where is the best place to refinance a car loan.?
I am looking to refinance a 72 month loan into a 60 month loan and to lower the interest rate from 10.72%. I was wondering what some of the better place to go would be. I have already looked at Capital One, but any other ideas?
How can I find the best loan option in order to refinance our home?
We have put an addition onto our house through a personal loan from a family member and want to refinance in order to pay the loan off. I am interested in doing a no doc, or stated, type of loan.
Try Lending Tree on line. You can specify what you are looking for and then the brokers, banks and S & Ls will come to you.
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As mortgage loan costs fall, refinancing perks up - Tampa Tribune As mortgage loan costs fall, refinancing perks up "The best thing is to have all those ducks in a row and when interest rates get to that point, then drop the hammer." Refinancing a loan isn't free, |
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Forest City confirms refinancing of key Atlantic Yards loan - The Plain Dealer - cleveland.com Forest City confirms refinancing of key Atlantic Yards loan Forest City Enterprises Inc. confirmed in a statement this afternoon that lenders have agreed to refinance a key loan on the company's embattled Atlantic Forest City gets refinancing on key loan for its Atlantic Yards |