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Comparing two options

I have received a loan estimate with two options and I want opinions on which is the best option, and why.Refinancing an exiting loan:Option A:Total amount220,00030-year fixed interest rate 4.5%monthly payment, including insurance and taxes $1,272Option B:Total amount221,50030-year fixed interest rate 4.375%monthly payment, including insurance and taxes $1,295Which is the best option and why?Thank you by neutral.prosumer731 from , Nevada. Sep 23rd 2014 Reply


Nathan Kessler (nathan.kessler@guaranteedrate.com)
#44 ranked lender in Nevada - 69 contributions

My suggestion is you ask your loan officer these questions. If you think he or she's full of beans, and wish to get a second opinion..... call out for one at that time. I can offer a second opinion if you are interested. I look forward to hearing from you. Nathan Kessler City First Mortgage Services 702-683-3126 NMLS 377217

Sep 23rd 2014
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Joseph Afonso (jafonso)
#64 ranked lender in Arizona - 195 contributions

You will want to compare the costs of both options before making a decision and then figure out how long it would take to recover the cost of each one. We can discuss your options give me a call 602-531-7040 or email me jafonso@azhomerates.com.we are looking forward to speaking to you soon.

Sep 23rd 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,515 contributions

The answer comes with one more question... How long do you plan on being in the home? With that, any good loan officer can calculate what the differences between what those two loans will look like over the time period you determine (we call it a Total Cost Analysis". The answer of which one will be better will jump right out at you. In MN, SD, and WI, I can assist at www.JoeMetzler.com

Sep 24th 2014
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