Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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With an interest rate of 3.5%, that's such cheap money that you may want to consider taking the full 15 years to pay off the loan and put that money that would have gone towards extra payments...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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If I knew we would have it paid off in 5 or even 7 years, then I would think it's a better deal. Right now we have a very good rate and a term that we can easily handle. Fixed rate for us. And a...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Craig55; with the Start Rate of 2.75%, on the 61st month the rate can possibly be 4.75% (and as mentioned adjust every 5 years thereafter).
Adjustment caps are 2% and 5% or life of the loan. ...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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The rate does not adjust only once over the course of the loan. A 5/5 means the initial rate is fixed for 5 years then it adjusts every five years thereafter for the remainder of the loan as stated...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Wow.....it amazes me the lack of information posted.
1. PENFED charges no fee's other than an appraisal
2. They do pay all closing cost
3. The rate is 2.75 for the first 5 years
4. Next 300...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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No they can't, but they will go lower because all I still hear is "record low" bla bla bla..."best time to refi is now!" nonsense. Banks are being paid to sit on delinquent property both commercial...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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I talked to hubby about it and he researched the loan. He agrees with you. He says stay with the fixed now 14 year loan and add extra money to each mortgage payment to make it a 10 year loan.
...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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I am with outatime on this one.
3.50% Fixed vs. 2.75% ARM?
Unless you are paying it off within 5-7 years I would stick with the Fixed and enjoy the interest rate tax writeoff while you can with...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Yes, there are potential downsides.
When do you plan to pay off your home?
What is your current interest rate? (I almost don't need to ask this since you said you refi'd last year so you...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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run from arms get a 15 year or 30 year fixed rates cant stay low for ever
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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As long as the numbers work out and there are no hidden "filing fees" etc, it seems like it is worth it. Know that there will be fees, there is the title fee, document registration, etc. Usually...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Doing another refi when rates drop through "the floor" again?
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Why not :D
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Absolutely, do it!
Be aware that their process is usually slow but their rates are great. I got a HEL from my home, paid off another home with it and the rates is 1.99 for five years. No one can...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Thinking about taking a 5/5 out with Penfed and leave fixed 15 year loan. Talked to hubby - best course appears to be keeping the fixed and adding additional money to each mortgage payment. Thanks...
Need your advice. Penfed has a great 5/5 mortgage. Should I ask hubby to consider a refi?
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Thread created 09-07-2012 by StarNova
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Penfed has great rates for a 5/5 mortgage with no closing costs. We have refi'd the house not long ago (about a year +) and got a good rate at 3.5% (with no closing costs). Penfed is 2.75 for 60...
