Should we re-fi our jumbo mortgage?

[goodbyehollywood]

The odds are probably good that you'll either move within ten years (most do) or have a better opportunity to refi. No rush.

[SunnyNJ]

Originally Posted by goodbyehollywood

The odds are probably good that you'll either move within ten years (most do) or have a better opportunity to refi. No rush.

I will kill myself if we have to move again before school is finished.

[NewJersey?]

I don't think you can say "Rates are 6.5% for 30 year fixed", unless you take into account the buydown.

My lender alwasy told me "the rate", then I asked how much it would go down with extra points. Maybe the OP did pay points to get that rate, or maybe willing to pay points, especially since there's at least 16 year time horizon before selling.

I would ask for more numbers and crunch them with your time horizon to find the best value. Sit down for an hour with a broker to get your best case. It's worth the hour. IMO

[SunnyNJ]

Originally Posted by banker0679

Yep....wait till next year....at least you have it fixed for 10yrs which is very good!

Our rate is fixed for 30 years, we just have a 10 year interest only option.

Have talked to a few people and 6.75% is about as good as I can get for this size loan. I'll keep my eye on it.

Thanks all for the advice.