05-30-2020, 05:44 PM
Tenders,
Are you sure about the costs involved? Something sounds skewed. I'm on the tail end of refinancing the mortgage on my coop here on Long Island, NY. We close on Monday. The rate dropped from 4% to 3.62%. Would've loved a lower rate but the the rate for co-ops is always noticeably higher than the rate for houses. We're still saving nearly $300 per month as a result of the refinance. It'll take about 18 months to recoup the cost of the refinancing.
Robert
Are you sure about the costs involved? Something sounds skewed. I'm on the tail end of refinancing the mortgage on my coop here on Long Island, NY. We close on Monday. The rate dropped from 4% to 3.62%. Would've loved a lower rate but the the rate for co-ops is always noticeably higher than the rate for houses. We're still saving nearly $300 per month as a result of the refinance. It'll take about 18 months to recoup the cost of the refinancing.
Robert