- Joined
- Jul 27, 2009
- Messages
- 121
So I just went out today and refinanced by `3 mortgages` from Prime to Prime-0.75.
I was 9 months into a 5 year term and it cost me about $2550 for about $360000 in loans with a reset 5 year period.
Based on a simple calculation, the payback seemed like 1 year.
Am I correct in my calculations?
Is this about par for what this should cost?
Thanks
Mike
I was 9 months into a 5 year term and it cost me about $2550 for about $360000 in loans with a reset 5 year period.
Based on a simple calculation, the payback seemed like 1 year.
Am I correct in my calculations?
Is this about par for what this should cost?
Thanks
Mike