Trying to get ahead.

It’s not easy…

I’m usually a bargain shopper and I love finding new ways to save and make money. On that note, I’ve been watching interest rates fall and fall. So, I finally made a call last Friday to see what it would take to refinance our home loan. Rates are SUPER low right now and I don’t want to miss out on a great opportunity, but really…is it worth the hassle? In addition to being a bargain shopper, I’m also a number cruncher so refinancing should be no problem right?

Sure, but did I also mention that I’m impatient? I want this to happen NOW, plus I want to know exactly what my new payments will be so I can budget for it. I was able to calc most of it myself, but closing costs vary plus a lot of the numbers depend on the value of our house which is unknown until the appraiser comes out to do an assessment of our house. Which brings me to another question…do I have to clean my house for the inspection? He’s putting a value on my house…so I’m assuming I do right?

Ha! I knew this wasn’t going to be easy. :) We’ll see how it goes. I know in the long run I’ll be thankful that we took advantage of these new low rates, but every time I look at my spreadsheet of our calculated monthly mortgage payments, I have to keep adding a hundred dollars here and another couple hundred there. WTH? Maybe I should just take my original 5.75% and run. Who knows? For now, it looks like we’re going thru with the whole refinance thing. I’d be great to have a 15 yr mortgage at a lower rate. Plus we can cut another 5 years off if we use the equity accelerator method and make an additional 1/12 payment each month. We’d have the house paid off before Avah is in high school! It almost seems too good to be true. I’ll let you know how it turns out!