How To Compare Mortgages
(Red Wing, MN USA)
Ask Kate: How To Compare Mortgages I need help knowing how to compare mortgages. We want to refinance to reduce the interest rate and take out cash. Our house is valued at $250,000. Our current balance is $92,700. We are looking at a mortgage for $120,000.
One bank is offering 4.5% with closing costs of $3,500. The other bank is offering 5.5% with closing costs of $370. We will probably sell in 3 to 5 years. How do I know which is better?
Kate Answers: How To Compare Mortgages
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