February 2008 Weddings
hydrangeablue
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Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
closing again! :)
Wow, I feel like such a grown-up today. DH and I are closing on our refinance tonight at 7! Our new mortgage rate is 1.2% less than our original (and we thought the first one was low!). We are planning to be in our house for another 5 years so this is a great decision for us and will save us quite a bit of money! Yay!
Re: closing again! :)
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Our interest rate was 5.1 and we got it down to 3.9. It wouldnt hurt to contact your lender and see what they can do for you, especially if you plan on being in your house for at least 5 more years. If you plan to move sooner than that it's not always worth it.
I know, right? when did I get so old?!
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It's costing us nothing to refinance. Here's how it works: There are closing costs which are added to our mortgage (so we are not paying anything out of pocket). The closing costs get covered by our interest savings over the next 24 months when we break even. At that point we begin the pure savings of having a significantly lower interest rate. Over the course of 4 years we will have saved over $2,000... if we stay in our house longer it will be more. Definitely worth looking into.
What I would do is contact a lender you would like to work with, and just ask them to run the numbers for you. I don't know of anyone who wouldn't. Then see what rate they can get you down to, what the closing costs would be, and how long it'd take you (with your lower rate savings) to recover the closing costs. If you're going to be in your house for longer than it'll take you to recover your costs of re-financing, then go ahead with it. I'd also look into a couple different lenders, because closing costs and rates vary from lender to lender.
Also, did you not like your lender as a company, or the person you worked with from that company? In my experience, the Lending Officers have a high turnover rate, so chances are the person isn't even there anymore!