Comments on: How Many Times Have You Refinanced? My Record: 9 Times in 12 Years

By: evelyn

evelyn — Mon, 06 May 2013 18:04:14 +0000

In reply to One Frugal Girl. Yes, some States are cheaper. I live in NJ and it is cheaper than NY. My co-worker who lives in NYC decided not to refinance due to the $9,000 closing cost fee.

By: Melissa

Melissa — Sat, 04 May 2013 03:22:59 +0000

I’ve owned 1 home since 2010 and I’ve already refi’d twice. But both refis were absolutely no closing costs (not even 3rd party closing costs). Right now we are at 3.5% 30 year fixed conforming loan (under $417k). We found that we can get 3.375% 30 year fixed with no closing costs. If it goes to 3.25% then we would definitely do it again.

By: Beatrice

Beatrice — Fri, 03 May 2013 14:21:17 +0000

Wow! That does seem like a lot of refis in that time period, but good for you for taking advantage of the falling interest rates. As long as your worked out the math and figured it was worth the closing costs and paperwork, what you did was sane and smart. Thanks for posting your refi history–very interesting to see.

By: One Frugal Girl

One Frugal Girl — Fri, 03 May 2013 14:05:29 +0000

In reply to evelyn. Unfortunately we did pay closing costs each time, but it was still worth it to receive the lower rate. I also found that refinancing in North Carolina is much cheaper than it is in our home state of Maryland.

By: evelyn

evelyn — Thu, 02 May 2013 18:41:17 +0000

Wow! I have refinanced 3 times in 10 years. My current rate is 2.62%. Did you pay closing costs for each refi? For my first refi, I paid about $2,500 in closing costs(this was 9 years ago). My 2nd and 3rd refis were with INGDirect (now Capital One) and those closing costs were much cheaper – about $1,000 for each one.