mortgage refinance right for us?

I have a 1.30% negative am loan that i need to get out of, i currently owe 650,000.00 for both my first and my second, my question is can i get a loan that is not a negative am loan and have my payments at 2,450.00 including my taxes? Even if i have to get myself into an interest only loan for the first 3-5 years or so, by then my wife and i would be off better financially and can refinance into something fixed. My home is worth about 750,000 so i still have some equity in it and have had this negative am loan for about 2 1/2 years now. I was on lending tree and put my info in the mortgage calculator and it brought out different scenarios and one did have a payment of 2,450.00 is this realistic? i pay 8,200.00 in real estate taxes a year.

Technorati Tags: , , , ,

Mortgage Refinance?

I have a 1.25% negative am loan that i need to get out of, i currently owe 673,000.00 for both my first and my second, my question is can i get a loan that is not a negative am loan and have my payments at 2,500.00 including my taxes? Even if i have to get myself into an interest only loan for the first 3-5 years or so, by then my wife and i would be off better financially and can refinance into something fixed. My home is worth about 750,000 so i still have some equity in it and have had this negative am loan for about 2 1/2 years now. I was on lending tree and put my info in the mortgage calculator and it brought out different scenarios and one did have a payment of 2,400.00 is this realistic? i pay 8,000.00 in real estate taxes a year.
I realize i cannot get an interest only loan plus get my taxes paid for 00.00 So can i get a payment of 00 without the taxes? for 673,000?

Technorati Tags: , , , ,

3 refinance calculators - 3 different answers?

http://www.bankrate.com/calculators/mortgages/refinance-calculator.aspx

http://www.lendingtree.com/mortgage-refinance/calculators/

http://www.bankofamerica.com/loansandhomes/index.cfm?template=learn_calculators&context=financenter&calcid=home11

I used each of these mortgage calculators to see if I should refinance, using the same conditions for each one. I have gotten answers from I will save K in interest (bankrate) to I shouln’t refianance (lending tree). What gives? Some ask for a savings rate and some don’t.

Which do you think is most accurate?

Technorati Tags: , , , , ,

Powered by Yahoo! Answers