can u help me do the math and figure out what my mortgage payment will be...?

my current rate is 6.15% and my current mortgage is $860.82in Aug. it will go up 3% to 9.15% so the mortgage will be: $967.67my bank is offering me to fix the rate for 30yrs @ 8.15%. All they are charging me is a flat fee of $250.00.If i change to a flat rate of 8.15%, then what will my mortgage be locked in at?

well because of falling intrest rates it may be wise for u to wate mabye a month or so. but if u want to do it right now ur paymens will be around $850.

You need your total balance to compute this. If you have a spreadsheet program you will find a template for amortization schedules where you can plug in your number and get your answer.

You're on the right track looking to refinance before your rate goes bonkers!I would shop around a little more before running with the 8.15% rate and find out more information.Questions to ask:-What is my home worth?-What will my new loan amount be?-Is there a prepayment penalty?-What type of income/asset documentation will I need to provide?-What is my credit score? Are there things I can do to quickly improve this score?-Does this new payment include your taxes, insurance and mortgage insurance (if applicable)?































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8.15% is really high, par right now is around 6.5%, just because they are your bank, doesn't mean you have to stick with them. The best thing you can do with a mortgage is shop around.

8.15 is really high but, at the same time I do not know enough info on you if you have mortgage lates your Fico score do you have reserves etc. these are important questions. Rates have been going up the last 14 days straight. If you need to refinance send me a email. I have 200 banks to help you.