Should I Wait Until After the Election To Refinance?

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 26 September 2024

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	Brought to you by the Every Dollar app.
0:04.3	Start budgeting for free today.
0:06.2	Well, I just have a random question because I've been getting a, so I own a home here in Pensacola.
0:12.5	That's my only debt.
0:14.3	And I have a current interest rate at 7.49.
0:19.6	And I've been getting, you know, I just feel like there's just so much
0:23.7	fraud going on and I don't know how you all feel about that what kind of fraud what do you mean
0:30.0	well I just mean like we're on so many different levels so I had a kid called me today
0:36.5	who said oh well we can give you, you have
0:41.5	an FHA loan, so we can give you a five point, I don't know what he said, four two, and, oh,
0:50.2	no money down. I go, wait a minute. I'm a business development person.
0:57.5	So I'm like, well, what's in it for you guys?
1:00.7	So he wanted you to refinance, and he's going to get the fees associated with that. He wanted me to refinance, but I'm like, wait a minute.
1:04.0	How does this work out?
1:06.5	Because I keep in touch with my current mortgage broker that I use to buy the home.
1:12.4	Uh-huh.
1:12.8	I keep in touch with her and I say, hey, what are they at?
1:17.5	Because I got a letter from FHA who said, hey, we can go down to 5.25 to 5.2%. And I just wanted to know y'all's thoughts on that. And I just feel like,
1:33.2	I'm like, okay. I mean, you're right. You're going to start to. Wait. And I know this election,
1:40.1	there's just so much. All right. All right. Shannon. Do it again.
1:44.3	Shannon. Let's roll it on home. All right. All right. Shannon. Do it again. Shann, let's roll it on home.
1:46.2	All right.
	...

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