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SVTPerformance's Chain of Restaurants
Road Side Pub
Refinancing - Points vs No Points
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<blockquote data-quote="72MachOne99GT" data-source="post: 16529848" data-attributes="member: 125600"><p>I’ll keep it short-ish and to the point.</p><p></p><p>Wife and I have been in our home 4+ years.</p><p>Have a 3.75ish rate @ 30 years.</p><p>Owe 211,000</p><p>Valued at 300,000 when purchased.</p><p></p><p>We are looking at shrinking to a 15 or 20 year.</p><p></p><p>15 year mortgage at 2.75% is going to be roughly 1431 a month.</p><p></p><p>Is it worth it to buy a point ($2,100) for a 2.5% rate?</p><p></p><p>My math shows it paying for itself in roughly 84 months.</p><p></p><p>And I’ve seen nothing that adversely affects taxes.</p><p></p><p>SVT Mortgage Gurus?</p><p></p><p></p><p>Edit: Or maybe I have no clue what points even are.</p></blockquote><p></p>
[QUOTE="72MachOne99GT, post: 16529848, member: 125600"] I’ll keep it short-ish and to the point. Wife and I have been in our home 4+ years. Have a 3.75ish rate @ 30 years. Owe 211,000 Valued at 300,000 when purchased. We are looking at shrinking to a 15 or 20 year. 15 year mortgage at 2.75% is going to be roughly 1431 a month. Is it worth it to buy a point ($2,100) for a 2.5% rate? My math shows it paying for itself in roughly 84 months. And I’ve seen nothing that adversely affects taxes. SVT Mortgage Gurus? Edit: Or maybe I have no clue what points even are. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Refinancing - Points vs No Points
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