Currently i have a FHA 30 yrs fixed at 5.25%......
I have had this loan since may 2009. I see that currently, interest rates are very low , do you think it's good time to refinance. by emilyjohn399 from Miami, Florida. Aug 18th 2010
Gregorio Denny (GVDenny)
#257 ranked lender in California - 380 contributions
It may or may not be and that depends a lot on your loan amount. If your loan amount is high enough, you may be able to do a streamline with little or no fees at closing. If you have a small loan amount, you will most likely have to bring a significant amount of cash to close and it may not pan out. More info is needed.
Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions
The best answer is, "it depends." Since you probably haven't paid down your mortgage much since May 2009, it will probably take a larger loan size for it to make sense. With that rate, you should still look at it and see how the numbers come together for you.
Akali Dennie (adennie)
#54 ranked lender in Florida - 196 contributions
Hello Emily. Freedom Mortgage is a Direct Lender of FHA loans and I would be happy to email you a FREE quote so you can compare your options. adennie@fmbranch.com. Thanks.
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