My current interest rate is 7.5 percent. Plz help. I have an adjustable rate and I am looking for a fixed rate; either a 30-year or 40-year loan...plz help...I CURRENTLY OWE 232,000 ON THE TOWNHOUSE....I AM LOOKING TO REFINANCE
2007-03-18 11:24:31 · 6 answers · asked by rontonton52 1 in Business & Finance ➔ Renting & Real Estate
Here's a mortgage calculator that works pretty good. You should be able to estimate what your payment will be if you know approximately what your interest rate will be.
2007-03-18 11:29:07 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
If you plan on paying off the townhouse, I suggest either a 30yr or 15 yr fixed rate. Today's fixed rate for a 30yr is 5.675 percent. I suggest against getting a 40yr, your interest rate is higher and the monthly payments are not that much lower.
Your loan sounds easy and if you're in California, let me know and can help you out.
Regards
2007-03-18 19:04:16 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Your payment is based upon 1) the amount of your mortgage, 2) interest rate and 3) term (meaning length) of your loan, NOT the value of the property.
2007-03-18 18:32:41 · answer #3 · answered by BoomChikkaBoom 6 · 1⤊ 0⤋
Get a fixed rate and you will save quite a bit now. How long do you plan on staying your townhome? Don't pay too much in fees if you plan to move in 5 years.
Check this out:
www.oneeasyfee.com a California lender.
2007-03-18 19:32:12 · answer #4 · answered by rogeliogreen 2 · 0⤊ 0⤋
I could answer this but why not call
at random, loan officers working for
mortgage companies. This is what they do for a living!
2007-03-18 18:28:36 · answer #5 · answered by kemperk 7 · 0⤊ 0⤋
2,500$
2007-03-18 18:28:58 · answer #6 · answered by Anonymous · 1⤊ 0⤋