Re: Buying Home, Credit Question
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Because of this stuff the mortgage guy offered me a 7.75% loan (I forget if that's 15 years or 30 years) on a 250k loan. That extra percent or whatever that I'm paying is going to cost me a lot. I guess I can refinance in a year, but it's still going to cost me about 5k by my amateur calculations that could be wrong.
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The difference between 6.75 and 7.75 is about $170 per month. Refi isn't free though, so factor those costs into your calculations.
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