by Laurie Oates
(Asheville, North Carolina)
Ask Kate: Cost of Refinancing
I am looking to refinance a home loan - currently I owe $96,500 on a house valued at $140,000 to $150,000 in Asheville, NC. It was a 30 year fixed rate mortgage at 6.625% - we are down to 27 years - I would like to refinance to a 25 or maybe even 20 year if I could get a 4.25%- 4.50% loan.
Are there really any loans out here that would make the cost of refinancing worth it?
Kate Answers: Cost of Refinancing
Hi Laurie, The cost of refinancing to one homeowner carries one meaning and to another something quite different.
What would make a refinance worthwhile to you?


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