Ask Terry Questions Refinancing at age 70

Refinancing at age 70

By Terry Savage on February 25, 2021 | Housing / Real Estate

I am going on 70 years old and I have 18 years remaining on my 5.125 % loan, is it smart to refinance or am I paying more into the house then the interest,

Terry Says

You should definitely try to refinance. Once you’re retired it is a bit more difficult, becasue you must prove that you have –or will have — via RMDs,etc, enough money to pay the mortgage. check with my friend Leslie Struthers at Guaranteed Rate. Her email is Leslie@rate.com.

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