With all the talk of the jumbo loan limit increasing to $729K,
\nI wanted to gauge the average time brownstoners refi their mortgages.
\nI bought my PS house in 2003 with a 5 year Jumbo ARM at 5.75%. I refinanced in 2007 as I was in need of $40K to pay for my wedding and thought let me refi while the rates are still “low” as my ARM was going to expire in 2008. However the refi left me with a montly payment that’s almost $400 more than what I was paying. I currently owe $620K on the house(it was appraised at 1.2mil)
\nAnyway – do you think I should try to refi again? Does it seem weird\/bad\/high\/ if someone does 2 refis in 5 years???<\/p>\n","protected":false},"excerpt":{"rendered":"
With all the talk of the jumbo loan limit increasing to $729K, I wanted to gauge the average time brownstoners refi their mortgages. I bought my PS house in 2003 with a 5 year Jumbo ARM at 5.75%. I refinanced in 2007 as I was in need of $40K to pay for my wedding and…<\/p>\n","protected":false},"author":7072,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"schneps_byline":"","schneps_post_style":"","schneps_post_source":"","schneps_syndicated_read_more":"","schneps_post_source_sitename":"","schneps_syndicated_thumb_html":"","schneps_syndicated_thumb_src":"","schneps_post_source_shortname":"","schneps_post_source_url":"","schneps_post_source_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[100],"tags":[],"districts":[],"class_list":["post-19954","post","type-post","status-publish","format-standard","hentry","category-mortgage"],"acf":[],"parsely":{"version":"1.1.0","canonical_url":"https:\/\/brownstoner.com\/forum-archive\/2008\/03\/refinancing-mor\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Refinancing Mortgages? – what’s the average?","url":"http:\/\/www.brownstoner.com\/forum-archive\/2008\/03\/refinancing-mor\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.brownstoner.com\/forum-archive\/2008\/03\/refinancing-mor\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Mortgage","author":[{"@type":"Person","name":"gemini10"}],"creator":["gemini10"],"publisher":{"@type":"Organization","name":"Forum Archive","logo":""},"keywords":[],"dateCreated":"2008-03-10T14:43:07Z","datePublished":"2008-03-10T14:43:07Z","dateModified":"2008-07-28T16:27:52Z"},"rendered":"