Rates dropped 1.2% since March, finally pulled the trigger on my refi

I kept putting off the cash out refi because my buddy in Phoenix said the closing costs would eat me alive. Turns out my lender in Tucson quoted me $3,800 all in and I pulled $45k out to fix my roof and pay off a stupid credit card. The new payment is only $210 more a month, which beats the hell out of the 24% APR I was carrying. Anyone else wait too long and kick themselves when rates dipped?

1 comments

1 Comment

uma_nguyen2415d ago

Damn, that actually makes a lot of sense. I always figured refi closing costs were a scam, but $3,800 to wipe out 24% APR is a no brainer, you played it smart.