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29062552 No.29062552 [Reply] [Original]

what should i do? i bought this house late winter/early spring 2020. all my payments have been on time for the last six months so i cam refinance, should i do it? looking for help cause im white and want to raise as many kids in this house as possible to combat divesity.

>> No.29062646

>>29062552
sounds like kikery.
is this bullish or bearish.

>> No.29062717

can i sell my house to myself with a loan from myself and collect the interest as free money?

>> No.29062804

>>29062552
interests rates are probably lower now so yes refinance

>> No.29062824

>>29062552
Are you going to significantly lower your interest rate? If so, then you should consider it. If not, then no. I refinanced last year and shaved 4 years off my loan and nearly halved my interest rate, so it was a no-brainer for me.

>> No.29062855

Sounds like your mortgage company is about to go out of business and they're trying to jew you.

>> No.29062899

I've been getting these questions for years, I just tell them all no. I've got a renter in it, making almost twice my mortgage payment, and eventually I'm going to tear it down and rebuild on the property because the current house layout is shit.

Keep in mind that living in it for less than two years you'll have to pay capital gains tax on the appreciation of your house AND you're going to get fucked on commissions and closing costs. Generally I'd say it's not worth selling the house unless you need the money to move or it appreciated like 300%.

>> No.29062928

I refinanced this summer. I'm saving a total of 120k.

>> No.29062987

>>29062899
>AND you're going to get fucked on commissions and closing costs
imagine not being a licensed real estate broker
YNGMI

>> No.29063113

>>29062646
Bearish. Look at the stock of mortgage companies. They're still down the shitter from March 2020, while the rest of the market recovered. The market knows that once the moratorium ends, the housing market will crash HARD.
Mortgage companies are calling people like OP and trying to make them sell their house because they need liquidity as to not go bankrupt.

Ripperino to anyone who bought their first home these last 3-4 years.

>> No.29063114

>>29062552
RE master here.
What is your current interest rate?

>> No.29063115

>>29062552
Refi but dont fall for the cashout shit, why wouldnt you want to pay less money?

>> No.29063276
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29063276

>>29062804
>pay 9000 in fees
>lower monthly by 20$

>> No.29063372

>>29062899
Heres your answer

>Tell them no
>Rent it
>Go on vacay to Portugal
>2 Years pass sell the house
>Profit
>Buy bigger house and repeat

>> No.29063498

>>29062552
Why are you in doubt? Just tell them to send them their offer, and if its better than what you have go for it. You could also send the offer to another bank and ask them if they can do better. Banks are allowed to take the interest of moneu they print themselves. You owe them absolutely nothing

>> No.29063504

>>29062552
I refinanced in the fall. It was expensive as fuck but saves me $100 a month. So as long as I stay here for 5 years or more it should cover it.

>> No.29063561

>>29062552
They will only ask for their own benefit OP. DO NOT DO IT.

>> No.29063665

I've been getting marketers trying to buy me and my sisters house last 2 years just block em.

>> No.29063678

>>29063504
Oh you guys have to pay for refinancing in the us? Nvm me then >>29063498

>> No.29063770

Just re read Op's post this is a bait thread.

>> No.29063793

>>29063114
mine is 3.75

>> No.29063836

>>29062552
just pay the thing off asap.

>> No.29063870

>>29063276
ok good point they should do some math
but they will probably be willing to waive origination fee so likely still a good move

>> No.29063885

>>29062552
Refinancing is the "buy high/sell low" of the housing world.

>> No.29064057

>>29062552
Just hold Link and pay off your house faggot. Stop being stupid

>> No.29064271

>>29063276
Average refi is like 4k. That would save 7k over life of the loan. Not worth it imo but if it drops like 100 bucks then it definitely becomes worth it.

>> No.29064479

so bc loans are cheap as fuck and cant go lower that means housing prices can only go down?