|
|
|
|
coachmarkos
my boys could swim
|
|
|
Joined: 14 May 2002
Posts: 11387
Location: 1st in AFC West
|
| Back to top
|
|
 Posted: 02/07/03 - 11:39 Post subject:
Question:
We financed ours with a VA Loan, since I was once a member of the Army National Guard.
Is it possible to refinance a VA Loan? I didn't think it was, but if it is, I really need to get on top of this.
|
|
|
|
|
akern
Member
|
|
|
Joined: 31 May 2002
Posts: 17149
Location: CTU
|
| Back to top
|
|
Posted: 02/07/03 - 11:56 Post subject:
We refinanced about a year ago. Went from a 30 year loan to a 15 only adding about 50$ to the payment. Was going to refinance again while the rates are lower. We are at 6.8 now. But for some reason the bank had changed they way they did their refinancing and was going to charge us a ton of fees and what not so we decided not to. 
|
|
|
|
|
Erstwhile Lurker
Member
|
|
|
Joined: 14 May 2002
Posts: 4047
|
| Back to top
|
|
Posted: 02/07/03 - 12:14 Post subject:
| coachmarkos wrote: | Question:
We financed ours with a VA Loan, since I was once a member of the Army National Guard.
Is it possible to refinance a VA Loan? I didn't think it was, but if it is, I really need to get on top of this. |
http://www.homeloans.va.gov/lgyinfo.htm 
|
|
|
|
|
omega lambda
Member
|
|
|
Joined: 14 May 2002
Posts: 4691
|
| Back to top
|
|
Posted: 02/07/03 - 12:27 Post subject:
We don't have a mortgage, but that doesn't stop the phone from ringing at least once a day with offers to reduce our payments/interest rate. I guess now's a good time though, no?
|
|
|
|
|
Erstwhile Lurker
Member
|
|
|
Joined: 14 May 2002
Posts: 4047
|
| Back to top
|
|
Posted: 02/07/03 - 12:38 Post subject:
| omega lambda wrote: | | We don't have a mortgage, [...] |
Buy some rental property. With the low rates, the cash flow on the rents can't get much better. And you'd also get the mortgage interest deduction back on your taxes.
|
|
|
|
|
Orange Bubble
Member
|
|
|
Joined: 20 May 2002
Posts: 2848
|
| Back to top
|
|
Posted: 02/07/03 - 14:19 Post subject:
We're refinancing at this very moment. It will save us about $250 a month.
|
|
|
|
|
copteacher
Adjunct
|
|
|
Joined: 08 Jun 2002
Posts: 20588
Location: Teaching in the Halls of Justice
|
| Back to top
|
|
Posted: 02/07/03 - 16:04 Post subject:
When we bought our house in June we got a 6 5/8 rate, I will never refinance at that low. Rates have stayed low to which is awesome.
|
|
|
|
|
Cappy
Excelent
|
|
|
Joined: 16 May 2002
Posts: 27368
Location: Spreadsheetylvania
|
| Back to top
|
|
Posted: 02/07/03 - 17:18 Post subject:
Just got done signing and initialing. I lost count after the 10th signature of how many times I signed my name. Glad that's over. Only 360 more payments left to go.
|
|
|
|
